Mad Money

Block CFO says Cash App products are popular with Gen Z and younger consumers

Key Points
  • Block CFO Amrita Ahuja on Friday told CNBC's Jim Cramer that the company's Cash App payment services are doing well with the younger generation of consumers.
  • Formerly known as Square, Block is a financial services outfit that operates payment and point-of-sale products.
1 in 4 Cash App users are daily users, says Block CFO Amrita Ahuja
VIDEO2:2302:23
1 in 4 Cash App users are daily users, says Block CFO Amrita Ahuja

Block CFO Amrita Ahuja on Friday told CNBC's Jim Cramer that the company's Cash App payment services are doing well with the younger generation of consumers.

The Cash App card, a free Visa debit card, is especially popular with young people, Ahuja said. She explained how Cash App is able to reach the younger generation, citing a families program that allows adults to sponsor accounts for teenagers.

"We have a families offering that is really unique because this is a population that's pretty underserved, and we get to grow with them," Ahuja said. "We get to reach their parents and their aunts and uncles and their community around them."

Formerly known as Square, Block is a financial services outfit that operates payment and point-of-sale products. Cash App, which brought in a large chunk of the company's revenue last quarter, has a variety of payment offerings and also lets users buy stocks and bitcoin.

Block also owns Afterpay, a buy now, pay later company. Ahuja discussed integrating Afterpay services within Cash App, saying it's "an incredible opportunity to bring commerce into Cash App."

"We had over 20 million consumers on an annual basis using Afterpay with increasing frequency," Ahuja said. "These younger customers, Jim, don't trust the negative debt spirals that you see from credit cards."

Block CFO Amrita Ahuja sits down with Jim Cramer
VIDEO8:3208:32
Block CFO Amrita Ahuja sits down with Jim Cramer

Jim Cramer's Guide to Investing

Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter.

Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.

Disclaimer

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com