Block, formerly operating as Square, has announced its intention to withdraw its Cash App service, which has been offered for six years, from the UK. The Cash App will finally disappear from the Isles in September this year. The reason was the abandonment of international expansion and a desire to focus on Block's home market, the US.

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The case is interesting for several reasons. Firstly, Block's chief executive is Jack Dorsey, who co-founded Twitter in the past, which was renamed X by the company's current owner, eccentric businessman Elon Musk. Meanwhile, Musk has repeatedly declared that X is to be a platform for sharing information and a money management service. To this end, he is seeking payment licenses in a number of US states. If successful, the two companies will be competing for the same customers.

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Block, on the other hand, as I mentioned earlier, was born as Square and was known as the forerunner of mPOSs, which were small devices that, when connected to a smartphone, allowed card payments to be accepted. Today, it offers a variety of financial services including the Cash App, which is primarily used to transfer money between software users. In Poland, the most popular service of this type is P2P transfers, i.e. to the recipient's phone number, with Blik.