Square Cash

Walt Mossberg reviews Square’s new super-simple cash-by-email service:

Here’s how Square Cash works. Say you want to send $47.12 to your sister. You just compose an email with her email address in the “To” field and, in the “CC” field, you enter “[email protected]” In the subject field, you enter the amount you’re sending — in this case, “$47.12.” You can leave the message body blank, or add a note explaining you’re sending the money and why. Then, you just press Send.

If this is your first time using the service, Square will email you a link to its service, where you’ll be asked to enter your debit-card information. This is required one time only. In seconds, Square verifies the debit card and checks that you have sufficient funds, using existing, routine Visa or MasterCard procedures, and sends an email to your sister. (Square says it never knows how much is in your account, and it encrypts your card number.)

Seems almost too good to be true — not least because there are no fees at all. If I send you $25.00, you get $25.00.

Wednesday, 16 October 2013