Turning to our BNPL platform, which contributed $242 million of gross profit to Cash App in the fourth quarter. GMV from our BNPL platform was $8.6 billion in the fourth quarter, up 25% year over year, driven by strength across our pay-in-four offering as well as single-use payments, which allows customers in the U.S., U.K., and Australia to shop via the Afterpay merchants we don't have a direct relationship with and pay using BNPL. Losses on consumer receivables were 1% of GMV, consistent with historical ranges. As Jack included in his letter, integrating commerce payments tools is a key focus for us next year, and we see powering BNPL through Cash App Card as a significant opportunity.
From the Q4 earnings call transcript
https://www.********/earnings/call-transcripts/2024/02/23/block-sq-q4-2023-earnings-call-transcript/
Ann: Annual Report for year ended December 31, 2023, page-21
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