Square's Day-Long Service Disruption Hampers Small Business Payment Processing - What's Going On?

Block, Inc SQ faced a day-long outage, leaving small business owners unable to process payments.

The disruption at the fintech firm began around 12 p.m. PT on Thursday and left sellers unable to access accounts or process credit card payments.

The users facing service disruption peaked at 2:15 p.m.

Around 49% of the users faced issues related to the Cash App, 34% related to purchases, and 17% related to the website.

Once resolved, the company will publish a full review of this issue.

The company updated that the users can transact with the Cash Card, add cash, and make purchases while it looks to fix the ability to send payments and cash out.

Price Action: SQ shares traded lower by 5.35% at $53.04 on the last check Friday.