Lyft becomes the first-ever rideshare partner for Cash App Pay
DISTRIBUTED-WORK-MODEL/SAN FRANCISCO--(BUSINESS WIRE)--Oct. 17, 2024--
Starting today, Cash App and Lyft are partnering to give digital-first consumers more flexibility when taking a ride. This partnership puts the convenience and accessibility of paying with Cash App Pay front and center, focusing on the preferences of the next generation of customers.
“Lyft connects riders with the people and places they love. Today’s partnership with Cash App gives riders even more options for getting out into the world — making it as easy and rewarding to pay for a Lyft ride.”Jordan Glassberg, VP of Partnerships and Loyalty at Lyft.
With an integrated Cash App Pay partnership, Lyft is adding an easy and exceptionally customer-friendly new payment method. It means that riders don't have to pull out a card and enter their information, instead seamlessly linking Cash App to the Lyft app.
For digital-first consumers who are looking for an option outside of traditional credit cards, they can choose to use Cash App Pay as a payment method and pay with their Cash App balance or linked debit card. According to a recent study on customer satisfaction when it comes to banks and financial technologies, Cash App was ranked as a top financial technology platform preferred by Gen Z and Millennials.1
“We are thrilled to join forces with Lyft to mark a significant milestone to offer more payment optionality within the rideshare space. With more consumers actively seeking solutions outside of traditional financial systems, this partnership will give consumers a new flexible and convenient digital payment solution when paying for their fares.” Tanuj Parikh, Head of Partnerships, Cash App and Afterpay.
With this partnership, Lyft will be able to engage with Cash App’s 57 million monthly transacting actives as of the second quarter of 2024.2 Within the same time period, Lyft reported over 23.7 million active riders.
About Lyft
Lyft is one of the largest transportation networks in North America, bringing together rideshare, bikes, and scooters all in one app. We are customer-obsessed and driven by our purpose: getting riders out into the world so they can live their lives together, and providing drivers a way to work that gives them control over their time and money.
About Cash App
Cash App is the money app. It’s the easy way to spend, send, and store money. Sending and receiving money is fast, and most payments can be deposited directly to an external bank account in just a few seconds. With Cash App, customers can also buy and sell Bitcoin instantly, get a paycheck deposited right to the app, create a unique $cashtag to share with anyone to get paid fast, and use the Cash App Card to spend the money everywhere Visa Debit is accepted. Download Cash App for free at cash.app/download.
Cash App is a financial platform, not a bank. Banking services provided by Cash App’s external bank partner(s). Prepaid debit cards issued by Sutton Bank pursuant to a license from Visa U.S.A., Inc.Visa is a registered trademark of Visa U.S.A., Inc. All other trademarks and service marks belong to their respective owners.
1YouGov, US consumer bank ratings 2024.
2Block, Inc. Q2’24 results. A transacting active is a Cash App account that has at least one financial transaction using any product or service within Cash App during a specified period.
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https://www.businesswire.com/news/home/20241017769811/en/
Press Contacts
Cash App
press@cash.app
Lyft press@lyft.com
Source: Block, Inc.
