Square branches out with P2P money

Square branches out with P2P money

21 MAY 2013

In another sign of how it is expanding beyond its trademark mobile point-of-sale device, Square is trialling a service that enables users to send money via email.

With Square Cash, a user composes an email with the recipient’s email address in the “To” field, and with a cc to a Square email address. The user enters a dollar amount in the subject line, and then sends the email.

There is no confirmation of whether the service works with mobile devices.

A page on Square’s website was picked up by Techcrunch.

Users are free to cancel a payment by clicking a link within the confirmation email they receive, although a cancellation only works if the payment hasn’t yet been redeemed by the recipient.

Each payment costs 50 US cents and there is no charge for receiving money. Currently the service is only a trial which is open to employees of three tech companies, Twitter, Pinterest and Box.com, according to AllThingsD.

Square is hardly breaking new ground with this service, not least since Google announced a similar initiative with Gmail last week, as well as existing players such as PayPal and Braintree already offering something similar.

The payments firm is steadily moving beyond the starting point of its card reader for small businesses. This is the latest consumer-oriented service Square has launched, following Square Wallet which enables consumers to make point-of-sale purchases.

Author

Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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