Block added 30,000 sellers to Neighborhoods, the program that puts Square merchants on a map inside Cash App, taking the network to nearly 10 times its June size. Shoppers who buy from a participating seller earn Local Cash worth 10% of the subtotal, capped at $10 an order, and can spend it on a return visit. Cash App is covering that reward for an initial period, so sellers give it away without paying for it, and a seller can send marketing campaigns to anyone who follows it inside Cash App. Block says Neighborhoods sellers accounted for $1B in annualized gross payment volume as of June, a figure it puts up more than 220% since March, and that follower spending averages 10% of a seller’s GPV after three quarters on the program. Auto-enablement is now rolling out nationally.
