The Square Cash app is available for iOS and Android devices. The service was first launched in October 2013. Now Square Cash has been made available for general use. However, it can only be used within the US.
Square Cash allows users to send and receive money without signing up or creating an account. Senders and receivers of funds need to link a debit card with Square Cash. Senders have the option of turning on a security code requirement, making it necessary to enter the card’s three-digit CCV number every time money is sent with Square Cash via the app or email.
Funds sent via Square Cash are not held in a stored balance account, but deposited directly into the recipients bank account.
The request for cash can also be sent to a group of recipients, and the sender can check in on the status of requested payments to see who has paid and who still owes money.
In recent news, Square has entered an agreement with Whole Foods in what is its first partnership with a national grocer.
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