Payment processors face technical issues, leaving small businesses and customers unable to transact
Major fintech companies Square and Cash App experienced system outages on Thursday, September 8th that prevented users from accessing accounts and processing payments for several hours. According to reports from users and website analytics service DownDetector, issues began in the afternoon and spiked with thousands of outage reports before services were restored overnight.
Square, which provides payment processing tools for small businesses, reported on its Twitter account that some users were unable to access accounts or complete transactions during the disruptions. As an essential service for many merchants, the outages left some shops unable to accept payments for several hours.
Personal finance app Cash App, which is owned by the same parent company as Square, also faced technical difficulties. In a statement on their Twitter account, Cash App acknowledged users may have experienced delays or been unable to use the app for send and receive payments during this time period.
By early evening, both companies reported they had identified the root cause of the issues and the “majority” of services had been restored. However, some lingering impacts may still have affected a subset of users into the late night and following day.
The outages come at an inopportune time, as both Square and Cash App have seen surging demand from merchants and consumers alike in recent years. Reliability is paramount for payment services that power transactions in stores, online purchases, and peer-to-peer money transfers alike.
It’s unclear what exactly caused Thursday’s widespread technical difficulties across both platforms. Fintechs of their size normally have redundancies in place to prevent a single issue from disrupting the entire service simultaneously. System failures on this scale could indicate an underlying vulnerability or common dependency that failed across infrastructure.
More details may emerge as Square and Cash App complete root cause analysis and make any necessary upgrades to forestall future disruptions. But for the time being, both appear to have weathered the storm and restored normal functionality—a relieving development for businesses and customers who rely on their financial tools daily.
or a specific category with our 
Comments are closed.