What Is Cash App?

Cash App is a term that had been in popularity for some time now, but it was not until some Afrobeat musicians who hail from Nigeria; Bella Shmurda, Zlatan and Lincoln used the term for the basis of their hit track titled ‘CashApp’.

It’s not really clear what these musicians meant when they composed the hit track, but we could read meaning to some lyrics of the song that had ties to ‘Gee boys’ or ‘Yahoo boy’s’ or ‘fraud’, a part of the lyrics goes like this; “load am CashApp, Cash out oni maga? bill am small money”. From this piece of lyrics, we can denote they meant using the application as a means to transfer funds from a foreign account into a local one.

Some people have a little understanding about what CashApp entails and its uses, while others use the trends online and in social media to explain the application. Cash App was formerly known as Square Cash, it is a peer-to-peer mobile payment service developed by Square, Inc., allowing users to transfer money to one another using a mobile phone app. The service allows users to request and transfer money to another Cash account via its Cash App or email. Users can then choose to withdraw the money with its debit Visa card, called Cash Card, in ATMs or transfer it to any local bank account, this means users from other countries can use the Application to transfer cash from a foreign account to a local account.

Various online business people e.g. online traders, website designers, online influencers, etc. Use this App in order to ease the process of getting their funds from foreign countries. But, in recent years the App has been associated with online scammers or fraudsters known as ‘Yahoo boys’, they use the App now as a safe means of transferring cash funds from their foreign bank accounts into their local bank accounts. We can say there is a Sigma of a sort when this App is concerned now in Nigeria, but that still doesn’t change the importance and usefulness of the App.

Written By: Mr. Titilope Agbaje (+234 705 364 6828)