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Sending Money Through the Air in Seconds With Square Cash

The second in our series of posts following the evolution of banking online, highlighting innovation in online and mobile apps and how they relate to Small Business Banking. This week we take a closer look into the new Square Cash app.

 It’s no surprise The Wall Street Journal named Twitter co-founder and Square CEO Jack Dorsey “2012’s Technology Innovator of the Year.” He has created one of the world’s top social networking sites, and now his company’s Cash app can send money through air in seconds.

As we develop into a “cashless” society, you’re bound to find yourself in a situation where you need to pay someone, but they don’t accept cards.

For me, it was yesterday, when a co-worker paid for lunch. I didn’t want to wait to pay her back but wasn’t going to get hit with a $2.00 ATM fee, and Paypal takes too long. That’s when I decided to try Square’s new Cash app.

The idea is simple: get the app (iPhone, Android) and enter your debit card information. Once connected to your account, you simply type in the amount you’d like to send and the recipient’s email address.

The recipient gets an email telling them to accept the payment, they enter their debit card info, and the funds are transferred. It’s that easy.

Here’s a look at Cash:

We're transforming accounting by automating Accounts Payable and B2B Payments for mid-sized companies. Our award-winning solution has helped over one thousand businesses transform accounts payable from a source of inefficiency and fraud risk to a secure and strategic profit center that provides visibility into key cost drivers.

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