Mobile payments system Square has rolled out Square Cash, a payments platform that will allow users to send money to debit card accounts via email.
Users will have to draft an email to the recipient they intend to pay, enter pay@square.com in the CC field and then type the amount in the subject field. Each transaction costs 50¢ to send.
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To collect the money, recipients will be required to link a debit card with the transfer, after which the money will be sent directly to the debit bank account. There is no cost to receive money.
The Square Cash service is currently available by invitation only.
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