The Cost of Culture: An Analysis of Cash App and the Financial Inclusion of Black American Communities

Mobile banking applications have become a primary mode of sharing and managing fnancial resources. However, prior work has questioned its role in serving Black communities amid legacies of structural racial inequity. To investigate this critical topic, we conducted a 30-day diary study with 21 participants and an interview study with 15 participants, all Black American users of the mobile payment platform Cash App. We observed that addressing hurdles to fnancial inclusion requires the navigation of institutional distrust, banking barriers, and fnancial literacy disparities. Our fndings suggest that Black Americans persist and navigate contemporary fnancial systems through legacies of social and cultural capacities. We ofer grounded-truth considerations for the continued design of fn-tech that could have equitable impact among historically marginalized communities. Refecting on the tenor of fnancial services to lack empathy, we urge designers and scholars of fnancial technology to refect on their power to promote racial justice and fnancial inclusion.