Oct 22, 2013 (Tue): Square has introduced Square Cash, a new service that allows its customers to send an e-mail to the person they’re paying and after the recipient enters their debit card number, money is directly transferred to their bank account.
Square Cash is free to send and receive, and there is no signup process. Funds are directly deposited into the recipient’s bank account, rather than held in a stored balance account. It works from any e-mail client (such as Gmail, Yahoo, Mac Mail, Android Mail and Outlook), whether on a phone, tablet, or desktop. In addition, mobile app of Square Cash has been created for iOS and Android devices.