What Is Cash App on Daniel Ricciardo’s Car? AlphaTauri’s New $10.6 Billion-Worth Sponsor’s Grand Team Rename
Follow Us
Since the start of the year, one team that stood out because of its rebranding is the Visa Cash App RB F1 team. Red Bull’s sister team which has gone from Toro Rosso to AlphaTauri was renamed after they struck a new deal for title sponsorship. However, there are not one but two title sponsors for the F1 team from 2024 onwards, Visa and Cash App. The two companies often work hand in hand to cater to their users. After being part of Red Bull since 2021, Cash App has taken a step further to make its name synonymous with the pinnacle of motorsport. So let’s get to know the name we will be using every time we talk about Daniel Ricciardo and/or Yuki Tsunoda.
Despite the pushback, the name is here to stay, so let’s get to know them. As we are already acquainted with Visa, the payment card services company, let’s talk about the other title sponsor, Cash App. The combined investment from both companies is said to be around $20 million. The San Francisco, California-based payment service company is born to cater to the modernization and digitization of cash. Let’s understand what they do.
Born after the popularization of money transfer and payment apps, Cash App was made to stand out from the pack. The payment service company allows its users to pay for purchases, invest in stocks, and even trade Bitcoin. Cash App provides these services on their platform using banking partners namely Lincoln Savings Bank and Sutton Bank.
ADVERTISEMENT
Article continues below this ad
Cash App also allows investing their Investing LLC which is a registered broker with the Financial Industry Regulatory Authority (FINRA). Some key features and services include:
- Money Transfer
- Cash Card: They offer a free Visa debit card linked to the user’s Cash App balance.
- Cash App Pay: Payment gateway
- Discounts
- Direct deposit: Deposit paychecks and tax returns into the Cash App account.
- Savings: The app also allows you to put money into saving
- Investing
- Bitcoin: Buying, selling, and sending and receiving Bitcoin.
- Tax filing
Through these features, Cash App, in 2023, recorded a revenue of $10.6 billion.
F1 News: “Fans Will Decide What They Call It”: Visa Cash App RB Finally Breaks Silence on Absurd Rebranding
It has been said to be a one-stop shop for all modern banking needs. However, do the Formula 1 fans care? Well, not until the partnership pays off during races. However, it seems like Cash App executives had already anticipated such a reaction during the livery launch, which is exactly why they came prepared.
Cash App executives try to save face during the VCARB 01 livery launch
ADVERTISEMENT
Article continues below this ad
The uproar from the Visa Cash App RB name reveal was loud enough to reach the ears of the people sitting at the top of these companies. So, heading to the livery launch, there was obvious hesitation regarding the fans’ reception to the car. However, the VCARB 01 changed everyone’s perspective with its stunning color scheme and resemblance to Toro Rosso’s livery.
Cash App’s head of brand marketing, Catherine Ferdon, tried to build on the livery’s goodwill to help soften the blow toward the name launch. She said, “We know that F1 fans are very discerning. So when the name was revealed, there was definitely a ton of conversation, which we were excited to see people so engaged about. But I think the name is really just to crystallize the strong partnership that we have with Visa and really put ourselves at the forefront of the sport that we really believe in. We’re glad to be front and center in the name and we think the more you see tonight and the more that the season plays out, we think it’ll really roll off the tongue.”
Trending
MET Gala 2024: Travis Kelce Left Awestruck as Lewis Hamilton Steals the Show With Black History- Inspired Look On the Red Carpet
May 07, 2024 10:04 AM EDT
F1 Fans Slam Insecure Fernando Alonso For Playing Race Card Against Lewis Hamilton in Miami
May 04, 2024 08:52 PM EDT
Miami GP Organisers Threaten to Revoke Donald Trump’s $250,000 Proposition for the Miami International Autodrome
April 27, 2024 04:47 PM EDT
After GF Alexandra Saint Mleux Gets Mistaken as Future Wife, Charles Leclerc Debuts His Son Leo at the Miami GP
May 07, 2024 08:19 PM EDT
Lando Norris’ Rumored GF Magui Caught ”Keeping an Eye” Despite 3000 Miles Separating The Lovebirds
May 05, 2024 01:30 PM EDT
Get instantly notified of the hottest F1 stories via Google! Click on Follow Us and Tap the Blue Star.
Follow Us
We’re not sure if “it’ll really roll off the tongue,” as the season passes. However, we do see the strategic side of this investment with Visa and Cash App working hand in hand and F1’s skyrocketing popularity among America’s youth.
ADVERTISEMENT
Article continues below this ad
Let’s just hope we don’t see the entire grid turn into a list of unrelated brands from across the globe in the coming years.
Edited by:
Ariva Debnath