Cash App, which belongs to the fintech Square, is launching a new feature to help artists on Spotify with its technology of digital payment.
© Cash App
A partnership between Cash App and Spotify will allow to cope with the interruption of several sources of income of the artists from the platform of music streaming. The fintech – that belongs to Square and offers a mobile payment service – just to unlock a million dollars and will offer its money transfer services so that the fans can make donations to their favorite items.
Spotify introduced this new partnership in a feature called Artist Fundraising Pick, available for its platform, Spotify for Artists. In the Face of the outbreak of coronavirus, which also affects the music industry, each artist will be able to add a link to his id Cash App. Therefore, the fintech will send $ 100 to each, and Spotify users will be able to easily make donations.
“We are particularly delighted with our partnership with Cash App , “said Spotify in a blog. “The users of Spotify for Artists who submit their user name, ‘$ cashtag’ as a choice collection of funds for the artists – and get at least a contribution of any size via Spotify – will receive an additional $ 100 on their account Cash App, until a total collective of 1 million dollars has been contributed ” stated the streaming platform, music.
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Cash App is partnering with Spotify to help you support your favorite artists directly. The first 10,000 artists paid on Spotify via the Cash App will get a year extra $100 bump from us.
The pandemic, a lever for Cash App and fintech
On Twitter, the CEO of Square Jack Dorsey has been sharing the news, which is not the first measure of Cash App in this context of an outbreak of coronavirus. Three weeks ago, the contractor had already desired to place its fintech as a vital service to the administration Trump its policy of helicopter money. Cash App offered its expertise and its platform for the ” Stimulus Check ” of $ 1,200 to reach more quickly and easily to the Americans, and responding to the problem of people not bancarisées.
“We have the technology necessary to transmit money to all the world (including those who do not have a bank account). Square, and many of our friends of the fintech can help the u.s. government “ said Jack Dorsey on Twitter at the beginning of the month of April. It must be said that the context of a public health crisis today is a very good lever for the landscape fintech. More than ever, the industry of online banking and the new services of digital payment have shown their interest in a period where physical money and conventional commerce may have their place.