Cash App users can now send money to friends using installment plans.

The new capability allows Cash App users to translate “recent” P2P transfers into short-term installment loans, Block says. The sum of the payment is immediately credited to the user’s account, and ...

Block says that the new feature has strong built-in protections to keep users from so-called debt spirals.

Cash App is a peer-to-peer money transfer service that makes it easy to send cash to family and friends. You can also use Cash App to pay your share of the rent, reimburse friends and family members, ...