Cash App introduces sparkly payment wand for phone-free purchases
Cash App is turning payments into a fashion accessory with the release of the Cash App Wand, an NFC-enabled tag that lets users pay without using their phone or card.
Cash App Wand via Cash App
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- Cash App has launched the Cash App Wand, an NFC-enabled payment accessory that allows users to pay without a phone or physical card.
- The Wand is the first product in Cash App's new Cash App Tags lineup. Additional designs are planned in the coming months.
- Cash App says the Wand is designed for quick, contactless payments.
Key Takeaways by nexos.ai, reviewed by Cybernews staff.
Cash App is turning payments into a fashion accessory with the release of the Cash App Wand, an NFC-enabled tag that lets users pay without using their phone or card.
The mobile payment service said that Cash App Wand is the first edition of its Cash App Tags and is tailored to Gen Z’s style and preferences. The wand is equipped with a keychain so users can clip, carry, and wear it as an accessory wherever they go.
Cash App added that the wearable was designed for situations where it’s not convenient to use a phone or a card, such as at festivals or phone-free venues.
The Cash App Wand builds on the idea of customizable cards already used by the company. It said that one in five American teens has the customizable Cash App debit card, which can be adapted with exclusive styles, stamps, emojis, and even full-drawn designs. Cash App expanded to supervised accounts for teens in 2021, allowing younger users (ages 13 to 17) to access the service.
Cash App Tags also come in response to the company’s survey of Gen Z consumers, which found that 38% buy collectibles, accessories, or limited-edition items at least monthly – more than any other generation.
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"While digital wallets are invisible and physical cards are often buried in wallets, Cash App Tags are just the opposite," said Thomas Templeton, Hardware Lead at Block, the fintech company that owns Cash App.
"We see a unique opportunity here to make payments visible and social for the first time. Early testers have told us that they've loved carrying the Wand and showing it off at checkout, so we believe there's a real appetite for this among our customers."
The wand is the first of several Cash App Tag designs which are planned to drop in the coming weeks. They will first be available to Cash App Card holders and will then expand generally later this summer.
Templeton said that the number of form factors they can create “is nearly limitless”, with almost any item potentially becoming a new way to pay, from clothing to jewelry.
Customers who wish to try the new wand must have an active Cash App Card. Once linked, the tag can be used for contactless payments without a phone or wallet.
Cash App Tags will work where Visa tap to pay is accepted, with no minimum balance or activity requirements. The company adds that tags have built-in security features, including real-time transaction alerts, 24/7 fraud monitoring, and the ability to instantly lock and unlock the tag within the app.
Customers can deactivate a Cash App Tag in their app at any time.
Eligible customers ages 13 and up can already purchase the wand through Cash App. It costs $25 (plus any applicable sales tax).
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