Block (NYSE:XYZ) is a financial technology company that provides payments, commerce, and financial services through an ecosystem of business and consumer products. Formerly known as Square, the company was co-founded by Jack Dorsey and Jim McKelvey and changed its corporate name to Block in 2021.
Its Square ecosystem serves businesses with point-of-sale hardware, payment processing, invoicing, payroll, inventory management, customer engagement, online commerce, and other software tools. Block also offers lending and other financial services to eligible business customers through Square-related products.
For consumers, Block operates Cash App, a mobile financial services platform that supports services such as peer-to-peer payments, money transfers, a Cash App Card, direct deposit, investing, and bitcoin transactions, subject to product and geographic availability. The company also owns Afterpay, a buy-now, pay-later platform that allows consumers to split eligible purchases into installments. Block serves customers primarily in the United States, along with selected international markets, and is led by co-founder Jack Dorsey, who serves as chief executive officer.
