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Shares of Block, Inc. (SQ) tumbled after its Square and Cash App payment systems crashed Thursday, although the problems were apparently worked out by Friday afternoon. Block shares closed more than 5% lower. Customized Bathroom Cabinet
Some sellers were unable to access their accounts or make payments because of an outage that occurred around midday Pacific Time Thursday, according to a post from Square on social media platform X. Cash App also posted on X that some customers “may be experiencing issues sending payments, purchasing Cash Card, and accessing other features.”
Square said that just after noon Eastern Time Friday the issue had been resolved. The company said its engineers have worked out a solution, and that in the coming days, a Square Point of Sale update will be available to those affected.
Also just after noon ET Friday, Cash App indicated that “our services are up and running,” although it added that users may experience some delays.
Square explained it plans "to publish a full review of this issue and determine what steps we can take to prevent it from happening again,” and share that with users.
The glitch sent parent company Block, Inc. shares to their lowest level in 11 months. The company's stock closed down 5.3% Friday afternoon.
Cash App. "We’re back online."
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