Square Makes Money Transfers as Easy as Sending an Email

With Square Cash, peer-to-peer transfers link to users' checking accounts and debit cards and are free to use.

learn more about Benjamin Kabin

By Benjamin Kabin

Square Inc.

Opinions expressed by Entrepreneur contributors are their own.

Square, the company that made it possible for anyone to take a credit card payment from his or her smartphone, is now making the process of transferring cash as easy as sending an email with a new service called Square Cash.

To start, users simply send an email to the person they wish to pay, put the amount in the subject line and cc "Cash@square.com." The sender then receives an email prompt to enter his or her debit card information while the user on the receiving end will be prompted to enter his or her debit card PIN. Like most other bank-to-bank transfers, the process takes one to two days.

Square says Square Cash is free to use. For now at least it appears that Square is targeting individuals with this service, not businesses. But the service could evolve over time, a Square representative says.

"Square Cash makes it convenient to send money to anyone -- without making them jump through hoops to retrieve it," Square Cash lead Brian Grassadonia says in a statement. "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 new service works with messages sent from any email client, whether from a desktop or mobile device. Square has also created apps for iPhone and Android that allow users to keep Square Cash right on the home screen.

Square first emerged with a credit card reader that made it possible for anyone to accept credit card payments on their smartphone. Since then the company has created several other tools including Square Register, Square Market and Square Stand to help entrepreneurs address their commerce needs.

For now, Square Cash is only available in the U.S. but many of Square's other services are also available in Canada and Japan.

Related: Intuit Partners With Square for Easy Accounting Integration

Benjamin Kabin

Journalist

Benjamin Kabin is a Brooklyn-based technology journalist who specializes in security, startups, venture capital and social media.

Related Topics

Editor's Pick

The Dark Side of Pay Transparency — And What to Do If You Find Out You're Being Underpaid
Thinking of a Career Change? Here Are 4 Steps You Can Take to Get There.
A Founder Who Bootstrapped Her Jewelry Business With Just $1,000 Now Sees 7-Figure Revenue Because She Knew Something About Her Customers Nobody Else Did
Everything You Need to Know About Franchise Law
Growing a Business

Scaling Made Easy: How to Scale Your Business like a Fortune 500 Company

Once you have the night-vision skills of Fortune 500 restaurants, scaling becomes effortless. Here are 3 ways to scale, hidden in plain sight.

Marketing

Streaming TV Is the Future of Advertising — Without Breaking the Bank

Today's consumers expect personal, impactful ads. There's an advertising method that can get you there for half the price, making it the next frontier in digital advertising.

Business News

'Crying Northwestern Kid' Turned His Viral Fan Moment Into a Successful Harvard Admissions Essay. He Says the Experience Taught Him About Empathy.

Six years ago, Phillips was watching No. 8 Northwestern take on No. 1 Gonzaga during March Madness when he became a meme.

Business Ideas

55 Small Business Ideas To Start Right Now

To start one of these home-based businesses, you don't need a lot of funding -- just energy, passion and the drive to succeed.