If you have a debit card, you can now send cash to anyone at any time simply by sending an email.
That’s the premise of Square Cash, which launched yesterday, for any debit card holder with an email address. Square is the mobile payments company from Jack Dorsey, c0-founder of Twitter.
Here’s how Square Cash works:
If you want to send money, compose an email to the recipient, type the amount you want to pay in the subject line, and cc [email protected]:
If this is your first time using the service, you will receive an email from Square directing you to the Square Cash website, where you will be prompted to enter your debit card number.
The idea of money changing hands by changing phones instead is hardly a new idea. Services like PayPal and Venmo have made it simply to link up debit cards to apps and websites so that payment processes become more streamlined.
So what is it about Square Cash that makes it better? Moving money takes only one step: enter your debit card number. Services like PayPal require you to enter your checking account number and your routing number. Plus, you have to visit its website or download its app.