Today, Square has launched its latest service, Square Cash. With the service, individuals can easily send payments to others just using the recipient’s email address, no hassle or time-consuming steps needed from erstwhile servies. The service is only available in the United States, and comes alongside Android and iOS apps for those who prefer to do their financials from a mobile device.
With the service, one user who needs to sent someone money does so by entering their email address into the Cash “To” field, followed by a CC to email@example.com and the amount of money they want to send. The recipient is then sent an email from Square notifying them of the incoming payment and the sender, as well as information on how to get it.
Once they have entered a debit card number, the recipient will then receive the money in his or her bank account. Any money sent to them from Square Cash will then automatically be added to their bank account, making the process hands-free on the receiving end, and nearly so for those who need to send money. The process is the same on the mobile apps.
Square Cash’s Brian Grassandonia said: “Square has always believed in creating solutions for individuals and business that work with the tools they already have in their pocket. Square Cash makes it convenient to send money to anyone — without making them jump through hoops to retrieve it. Now it’s easier than ever to split a bill, send a birthday gift, or settle up with a friend, no matter where you are.”
SOURCE: Square Up