The point of Square is simple: transferring money from one place to another. They intend to let you do that any way you like, it seems, as a myriad of features have been rolling out all year. The latest, this time for Square Cash, allows you to send friends money via Bluetooth.
Like all Square Cash transactions, it requires both sender and receiver to have Cash installed to take advantage of the transaction in full. If both users do, and have Bluetooth on (and are close to one another, of course), Square Cash can find both and let them send and/or receive money.
The Bluetooth moves comes shortly after Square Cash made allowances for sending and receiving money via text message. In that instance, you transfer money to any number, which prompts them to download the app ahead of receiving it.
Like text, the Bluetooth capability doesn’t actually transfer funds — it just allows you to ping someone who you’ve sent them money. All transactions will be handled via Square.
This feature is also available only to iOS devices — and limited to iOS 8. According to Square, the improvements to Bluetooth Low Energy in iOS 8 allowed them to “build a reliable experience for paying people nearby.”
It’s a neat concept, and the latest in a long line of features Square has added to their various services. As sublime as Square is, it has suffered the same fate as other p2p payment services in having failed to catch on in a big way.