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Block Partners with Nova Credit to Launch Cash App Score
Block will open the Cash App Score to external lenders for the first time, with Nova Credit as a distribution partner. The partnership will make Cash App's proprietary, cash flow-based credit score available to lenders through Nova Credit's Cash Flow Intelligence Platform, embedding it directly into the underwriting workflows lenders already use, with no new consumer credentialing required. Cash App Score, which has begun rolling out to customers, draws on millions of real-time, first-party signals from across the Cash App ecosystem, including spending, saving, repayment behavior, paycheck deposits, and peer-to-peer activity, to form a detailed, near real-time picture of a person's financial health. And, unlike traditional credit scores, Cash App Score doesn't look back exclusively at credit history - instead it reflects a customer's broader financial behavior including historical and current activities, reflecting changes in near real-time.
Block Adds 30,000 Sellers to Neighborhoods Network
Block announced that Neighborhoods has added 30,000 more sellers to the network, up nearly 10x from June. The expansion marks a new phase for Neighborhoods as Square and Cash App scale a local commerce network for both sellers and customers. "Neighborhoods helps local businesses get discovered by new customers and then turn that first visit into a lasting relationship," said Owen Jennings, Executive Officer and Head of Business, Block. "We're seeing a business's most loyal customers come back more often and spend more, which creates the repeat behavior that helps local businesses grow and thrive."
The Baked Bear Expands to 36 Locations on Square
Square announced that The Baked Bear is continuing to grow on Square as it expands its national footprint. Operating 36 locations across the United States, The Baked Bear has run on Square since it opened its first store. "With at least five additional locations planned over the coming year, The Baked Bear is entering one of its most active growth phases yet, and is doubling down on Square as its technology foundation," the company said.
Square Expands Credit Card Program and Launches Bill Pay Feature
Square announced a significant expansion of its Square Credit Card program and a new Square Bill Pay capability that enables sellers to fund vendor payments with their Square Credit Card, regardless of whether the vendor accepts cards. Together, the updates give sellers a more powerful way to manage cash flow, business expenses, and vendor payments from a single platform. Operating on the American Express network, the refreshed Square Credit Card now features unlimited 3% cash back on Square Bill Pay transactions and 1.5% cash back on all other purchases. Rewards are redeemable as cash deposits into a seller's Square Savings account, statement credit, or free processing. And now, Square Credit Card sellers can also use their card to pay more types of vendors, including those that don't accept card payments, giving sellers more control over their cash flow.
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