Cash App immediate deposits

A few years ago, I worked at Cash App. Before that, I worked at Square. During my time in both of these roles, we spoke in depth about financial empowerment and making historically complex tools easier for people to understand. Cash App has made significant headway in simplifying finance, particularly in its paychecks, banking, investing, and bitcoin products. They aren’t tools for power users, but for the average person, they accomplish exactly what’s needed.

Broadly speaking, Cash App has had a positive impact on the customers who use the product. This merits a whole, separate post, but we’ll get to that another day. The more pessimistic side of me considers the more negative implications of access to finances (paycheck advances). What if we took it to the extreme and just started distributing paychecks hourly?

In theory, this should be technically feasible, but knowing human nature, I doubt this would be helpful for most. Budgeting and payment for other expenses (such as rent) would need to change to support a more dynamic ecosystem. This idea originally felt unhinged but as I sit with it longer, I realize it could be pretty interesting. Doubtful it comes to life in the short term, but who knows.

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