Square begins offering its users prepaid debit cards

Adam Westlake - May 6, 2017, 1:42pm CDT
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Square begins offering its users prepaid debit cards

These days, more and more payment methods are going digital. But while we live in a world with Apple Pay, Paypal, and other similar apps and services, we still see some that make the move from digital to physical. The latest example is Square, the payment company founded by Twitter’s Jack Dorsey. Just last month we saw a tease that Square could be moving towards physical debit cards, and now we know they are in fact rolling out.

Not everyone can get one, mind you, as Square seems to be gradually inviting certain users to sign up for the card. Also important to note is that the card is only tied to users’ Square Cash balance, effectively making it a pre-paid debit card.

Square has confirmed to Recode that its card is not connected to users’ bank accounts, and merely offers a way for them to spend their Square Cash balance when a physical payment method is needed. While users can always withdraw their balance to their standard bank account, Square’s card offers the convenience of spending the money right away, and skipping the one-day transfer delay.

The card does feature a sleek, all-black design, and Dorsey’s teaser image of a card with his Twitter handle is the real thing: Invited users are asked to provide a signature that will be laser-printed onto the front of the card (note that it will be screened to weed out any inappropriate submissions).

There’s no word on when Square will begin a wider rollout of the debit cards or if this is merely a limited trial program, so Square Cash users will need to sit tight and hope for that invite.

SOURCE Recode


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