Square Cash, New Service Enables Peer-to-Peer Payments Directly To And From Customers’ Debit Cards

Square, the company making commerce easy for everyone, introduced Square Cash; a new service that makes sending money as simple as sending an email.

With Square Cash, individuals no longer need to write checks, pay ATM fees or wait for forgotten loans from friends. Customers simply send an e-mail to the person they’re paying, and after the recipient enters their debit card number, money is directly transferred to their bank account.

Square Cash is free to send and receive, and there is no signup process. Funds are directly deposited into the recipient’s bank account, rather than held in a stored balance account.

To send their first payment, customers simply compose an email by filling in the following fields:

– To: [email address]
– Cc: cash@square.com
– Subject: $ [amount]
– Send!

Customers then receive an email prompting them to link a debit card to fund their first payment. To accept a payment, the recipient enters their debit card number once, and will automatically receive funds to their debit card thereafter.

Square Cash works from any e-mail client (such as Gmail, Yahoo, Mac Mail, Android Mail and Outlook), whether on a phone, tablet, or desktop. In addition to the e-mail service, Square also created a Square Cash app for iOS and Android. The app enables customers to keep Square Cash on their homescreen and send e-mail payments from a simple, customized interface.

Square Cash is only available in the U.S., visit www.square.com/cash for more information.

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