Digital payments firm Square has introduced a new contactless payment method, dubbed Cash App Pay, for both sellers and consumers.
The new method is a software integration of the company’s Seller and Cash App ecosystems.
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It enables sellers to accept online as well as in-person contactless payments. Meanwhile, consumers can make transactions using their Cash App account at participating Square sellers.
Users can scan the QR code of a seller at checkout or click a button on their mobile device for fast and secure payments.
In addition, sellers can leverage over 70 million annual transacting active customers of Cash App. This can lower checkout friction for consumers while improving their experience, Square noted.
Square lead of Seller business Alyssa Henry said: “Cash App Pay enables us to offer a simple and mobile-friendly way for businesses to reach customers across online and in-person, bringing accessibility and flexibility to every transaction.
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By GlobalData“We look forward to deepening the integrations between Square’s Seller and Cash App ecosystems that will continue to offer enhanced experiences for businesses and customers alike.”
The latest contactless method expands Square’s omnichannel commerce offerings for merchants.
With the increasing use of contactless and QR code-based payments, Square sellers and also Cash App customers prefer using Cash App Pay, the company added.
Square lead of Cash App business Brian Grassadonia said: “The option to checkout online or in-store with Cash App has been a frequent request amongst our customer base.
“With the launch of Cash App Pay at Square merchants, we’re excited to introduce this new, seamless checkout experience to consumers across the United States.”
Merchants using the new method can manage receipts, reconciliation and settlements in their Square system. It is available as a software update and no technical integration or new hardware is needed.
Last month, Square agreed to acquire Australian ‘Buy Now Pay Later’ (BNPL) fintech Afterpay in an all-stock deal valued at approximately $29bn (A$39bn).
