Cash App Brings Installment Plans to P2P Payments

Cash App users can now spread the cost of peer-to-peer (P2P) money transfers over time.

With this new feature, eligible Cash App customers can convert P2P money transfers of $25 or more made within the last 30 days into short-term installment plans, pay a transparent upfront fee, instantly receive the amount of the P2P money transfer back into their balance, and then repay the amount in weekly installments or in a single payment at the due date, Cash App said in a Thursday (April 2) press release.

This offering builds on the success of Cash App’s retroactive pay-over-time product for debit card purchases, which the company introduced last year, and meets the demand for installment options beyond merchant checkout experiences, according to the release.

“Millions of customers already use pay-over-time features within Cash App for card purchases, and this expansion builds on that existing behavior by extending a familiar experience to more transaction types within the app,” Owen Jennings, executive officer and head of business at Block, the parent company of Cash App, said in the release. “We’re delivering flexibility at every touchpoint where customers are sending and spending their money.”

The PYMNTS Intelligence and Ingo Payments collaboration “Peer Pressure: Balancing Convenience With Compliance in P2P Payments” found that P2P payment platforms have gained popularity. For example, 60% of U.S. consumers use P2P apps to pay bills.

The appeal of P2P payments has been particularly strong among millennials and Generation Z, with 53% of consumers aged 18-25 and half of those aged 26-41 using P2P apps more frequently, according to the report.

PYMNTS reported in August 2025 that Cash App’s leaders see the app as not only a P2P payments tool but a “financial operating system for the next generation” that includes a peer-to-peer network, commerce tools, banking features and bitcoin capabilities.

During a November 2025 interview, Jennings told PYMNTS CEO Karen Webster that Cash App is now one of the largest consumer finance platforms in the country, home to the fourth largest debit card program in the United States and millions of consumers who treat it as their primary bank account.