Square's Day-Long Service Disruption Hampers Small Business Payment Processing - What's Going On?
Portfolio Pulse from Anusuya Lahiri
Block, Inc (NYSE:SQ) experienced a day-long service disruption, leaving small businesses unable to process payments. The outage began around 12 p.m. PT on Thursday, peaking at 2:15 p.m. with 49% of users facing issues with the Cash App, 34% with purchases, and 17% with the website. The company's shares traded lower by 5.35% at $53.04 on the last check Friday.
September 08, 2023 | 3:33 pm
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Block, Inc's day-long service disruption could negatively impact its reputation and customer trust, potentially leading to a decrease in its stock price.
The service disruption at Block, Inc affected its ability to process payments, a key aspect of its business model. This could lead to loss of customer trust and potential revenue, which could negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100