Forget checks, ATMs and money transfer services, Square has introduced Square Cash; a service that allows users to send money in form of an email, a move set to make peer-to-peer money lending and eCommerce simpler for everyone.
If a Square Cash customer owes you money, all he needs to do is send you an e-mail, and after you received that email just enter your debit card number, and the cash is debited to you within a day or two, plus email and SMS notifications to both the recipient and the sender.
Works With Major Email Clients
According to Square Cash lead Brian Grassadonia,
“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.”
The free to send and receive service requires no signups and all new user needs to send their first payment is an email address and their recipients email address. They compose an email to the recipient and cc firstname.lastname@example.org, put the amount as subject, say $200, and then click send. To accept the amount, a first-time recipient is sent to the Square Cash website, enters their debit card number and will automatically receive funds to their debit card.
And you don’t have to have a Square.com email, Square Cash works with Gmail, Yahoo, Mac Mail, Android Mail and Outlook whether on a phone, tablet, or your home desktop. For those who love apps, Square Cash app for iOS and Android have been created . Just before you go and Square Cash your friend, ensure that your email password is unique and strong. Also for security purposes leaving your email account open might cost you a fortune!