Square drastically simplifies Internet cash transfers

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The screen where users enter their debit card information. Financial startup Square launched a new arm of its business Tuesday that allows two parties to transfer cash between themselves using only their debit card numbers and e-mail. Square Cash may trump similar services like PayPal in ease of use in that it doesn’t require extra bank info, and transactions can happen directly via e-mail. Competitors like PayPal have been able to handle direct debit transactions for some time, though setup is a bit more of a hassle. Users have to enter their checking account numbers and routing numbers and then verify their accounts with two small deposits, so the process can take a few days. With Square Cash, the process begins in e-mail : users send an e-mail to the person they want to pay, cc cash@square.com, and enter the amount in the subject line. If it’s their first transaction, Square sends a second e-mail that leads the user to a screen where they enter their debit card number, expiration date, and ZIP code. Once the person on the other end gets the e-mail and fills out the same form, the transaction is completed in 1-2 days. Read 2 remaining paragraphs | Comments        

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Square drastically simplifies Internet cash transfers

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