How Many People Use Cash App? (2023–2027)
Mobile payments are becoming increasingly popular among United States consumers, as evidenced by the growing user expenditure and transaction value in recent years. Already, mobile payment service providers like Zelle and Venmo have seen their user base rise year after year.
But what about Cash App, another popular payment service? Here’s a look at how many people use Cash App every month.
How many users does Cash App have: 2022–2023
A recent analysis of the number of Cash App users shows this is set to hit 45.5 million in 2023. This represents 16.1% of the US population. In other words, around one in every six US consumers uses Cash App at least once a month.
In comparison with some of Cash App’s biggest competitors, the number of Zelle users is expected to rise by 10.1% this year, to 67.8 million. Venmo’s user base is also forecasted to grow to 85.1 million, marking a 9.5% increase.
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Experts credit Cash App’s growth in 2023 to parent company Block’s efforts to increase its focus on building the payment service. Reported plans for Cash App this year include further development of its savings and debit card features, as Block works toward establishing Cash App as consumers’ default wallet for day-to-day spending.
Cash App number of users: 2024–2027 forecast
Industry experts predict that Cash App’s number of users will continue to rise over the next few years.
In 2024, Cash App’s monthly active users are forecast to amount to 50 million, a 9.9% increase from this year. This is expected to rise to 54.3 million in 2025, after another strong growth performance of 8.6%.
In the two subsequent years, growth is expected to slow. In 2026, the number of Cash App users is set to grow by 6.4%, to 57.8 million, before a 5.9% increase in 2027 to take the figure to 61.2 million.
From 2023 to 2027, Cash App is forecast to grow its monthly active users by 15.7 million. This is an overall increase of 34.5% and an average annual growth rate of 7.7%.
Cash App users’ age demographic
Cash App is especially popular among young adults. It is used by 39% of consumers aged 18 to 29. Those between 30 and 39 years old form the second-largest group of Cash App users, with 35%.
Just 19% of consumers between 50 and 64 use Cash App, and this figure falls to 9% for consumers aged 65 and above.