Block, Inc. (NYSE: SQ), founded by Jack Dorsey and formerly known as Square, is a fintech holding company whose two primary products are Cash App (consumer financial super-app) and Square (merchant point-of-sale and commerce platform). Alyssa Henry, formerly Square/Block CEO, joined the PayPal board as a new member as of early 2026.
Block’s Cash App is identified by PayPal Holdings as the primary competitive threat to Venmo in the US P2P and mobile commerce space. FY2025 Cash App revenue was 5.5 billion and ~59 million monthly active users — a gross profit ARPU of approximately 17–25 revenue ARPU. This structural ARPU gap reflects Cash App’s success in building a financial ecosystem (Bitcoin, investing, direct deposit, debit) beyond the P2P layer, which Venmo has not replicated.
Block’s Square platform also competes with PayPal Holdings in the SMB merchant segment, though this is a secondary dimension relative to the Cash App–Venmo consumer wallet competition.
Ontology
Block Inc OWNS Cash App Block Inc COMPETES_WITH PayPal Holdings
Connections
- Cash App — primary consumer product; Venmo’s main ARPU competitor
- Venmo — competitive peer; lower ARPU but overlapping demographics
- PayPal Holdings — primary competitive target