Cash App’s launching a phone service

Cash App launched a mobile phone service on June 13, 2024, leveraging AT&T's network. The service offers an unlimited 5G data plan priced at $40 per month, inclusive of all taxes and fees. This new mobile offering is powered by Gigs, the same company that previously launched a similar mobile service for Klarna in 2023, which also featured the same $40 monthly price point. The Cash App phone service is currently being rolled out to a select group of users, with plans for wider availability to follow. This move by Cash App, a subsidiary of Block Inc., aims to expand its ecosystem of financial services by entering the telecommunications market, potentially offering bundled services to its existing customer base. The $40 unlimited 5G plan positions Cash App as a competitive option in the prepaid mobile market, directly challenging established carriers and other mobile virtual network operators (MVNOs).