Block (Square) makes point-of-sale hardware and software for 4M+ small businesses, plus Cash App - which has 56M+ monthly active users for peer-to-peer payments, investing, and Bitcoin. Its ecosystem flywheel: Cash App users become Square merchants; Square merchants accept Cash App payments. Jack Dorsey's company is also one of the largest corporate Bitcoin holders.
Key relationships in depth
Block (Square) & Apple
Block (formerly Square) and Apple have a complex competitive and technical relationship. Apple's Tap to Pay on iPhone, launched in 2022, allows merchants to accept contactless payments using any iPhone without additional hardware, directly competing with Square's hardware-based card reader business. However, Block's Cash App Afterpay competes with Apple Pay Later, and Square's point-of-sale ecosystem runs as an iOS app on iPhone and iPad hardware. Apple and Block settled a patent dispute over NFC payment technology in 2022.
Why it matters: Square's original market innovation was democratizing card acceptance for small merchants through a simple iPhone-attached card reader, and Apple's Tap to Pay eliminates the need for any external hardware by turning iPhone itself into a payment terminal. This hardware disruption threatens Square's hardware revenue stream while accelerating contactless payment adoption that also benefits Square's software and financial services ecosystem running on iPhones.
Block (Square) & Alphabet
Square (Block) and Google have integrated payment acceptance partnerships, with Square's point-of-sale terminals and Cash App accepting Google Pay as a contactless payment method. Block's Bitcoin and cryptocurrency services on Cash App integrate with Google's Play Store and Android ecosystem for app distribution, and Square's payment data has been used in Google Analytics-adjacent marketing tools for small business attribution.
Why it matters: Google Pay's acceptance at Square-powered merchants adds real-world transactional utility for Google Pay users, as Square's 4M+ merchant network includes small businesses, restaurants, and service providers where contactless tap-to-pay is increasingly expected. Block benefits from offering Google Pay acceptance to stay competitive with larger POS platforms, as merchants want maximum payment method coverage.
Block (Square) & Amazon
Block's Square point-of-sale ecosystem and Amazon have overlapping and competing interests in the small business merchant market. Square processed $250B in gross payment volume from 4.5M+ sellers in 2025, competing with Amazon Pay for merchant payment processing. Amazon's Buy with Prime enables Amazon Prime members to shop on non-Amazon sites using Amazon checkout, directly competing with Square's online checkout product. Cash App's peer-to-peer and banking features compete with Amazon's financial services ambitions through Amazon Pay and Amazon Lending.
Why it matters: Block's 4.5M+ Square sellers include many small retailers and restaurants that also list products on Amazon Marketplace, creating an overlapping merchant relationship where Square processes in-person transactions and Amazon handles e-commerce. Amazon Pay's expansion to non-Amazon merchant websites has accelerated since 2023, growing into the exact merchant base that Square online checkout targets. Amazon's physical retail footprint (Whole Foods, Amazon Go, Amazon Fresh) uses Amazon's own payment infrastructure rather than Square, ceding the physical POS market.
Block (Square) & Coinbase
Block (Square) and Coinbase are the two dominant US consumer platforms for Bitcoin access, operating as direct competitors in crypto retail while occupying distinct niches. Cash App allows 59M+ monthly users to buy, sell, and hold Bitcoin alongside peer-to-peer payments and banking features. Coinbase serves 110M+ verified users as a dedicated crypto exchange. Block's Proto hardware division began shipping proprietary 3nm Bitcoin mining chips in early 2026, creating a new dimension of competition with Coinbase's own mining and institutional infrastructure services.
Why it matters: Bitcoin access is a key product differentiator for both platforms. Cash App's Bitcoin revenue contributed significantly to Block's $10.4B gross profit in 2025, while Coinbase's trading revenue is directly tied to Bitcoin price volatility and trading volumes. Both companies benefit from Bitcoin price appreciation but compete for the same retail user's crypto wallet share. As Bitcoin institutional adoption accelerates through BlackRock's IBIT ETF (where Coinbase is custodian), Coinbase's institutional positioning differentiates it from Cash App's consumer-first approach.
Relationships are compiled by VexMap from company filings, announcements and reporting, and last reviewed September 2026. Spotted something wrong? Tell us. Not investment advice.