Square Cash appears on invite-only site, lets you send money with an email
Square's been venturing beyond those tiny credit card swipers as of late. Last week, the company introduced its nifty $299 Stand POS system for iOS, and now it appears to be branching out to individuals, with a to-be-announced service called Square Cash. There's not much info to share at this point -- TechCrunch recently discovered a dedicated landing page for the new service, which looks to be invite only at this point. There does seem to be an option to request an invitation, but the button isn't properly linked, so we weren't able to make our way to the proper form in order to take a closer look.
A handful of help articles do shed some light on the service, though. To send money, you'll simply send an email to your recipient with the dollar amount in the subject line and "pay@square.com" in the cc field. Once your friend or associate receives the email, they'll type in the debit card account number of their choosing and Square will fund the associated checking account within 48 hours. Each payment costs just 50 cents to send, and there's no cost to receive -- it's not quite clear whether or not you can use a credit card to fund the transfer, but with fees of less than $1, we imagine you'll need to use a checking account. Square has yet to formally introduce the service, but we're guessing an announcement will be coming soon.
