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Square Now Offers Square Cash For Businesses

Square Now Offers Square Cash For Businesses

by Brad MerrillMarch 23, 2015

In 2013, Square introduced Square Cash as an easy payment system for sending money to friends and family. Today, Square made Cash available for businesses in the U.S.

Like the consumer version of Square Cash, payments are deposited directly into bank accounts with an intermediary holding account. The processing fee is just 1.5 percent — a little over half of the 2.75 percent fee it charges for transactions made with Square card readers.

Square has also introduced ‘$Cashtags,’ which let people quickly pay businesses online. These unique identifiers are used in Cash.me URLs—like Cash.me/$Wikipedia—which, when visited, show information about a business or user and a prompt for how much money you’d like to send them.

You can also use the Square Cash app—but with the new Cash.me URLs, you don’t have to.

About The Author
Brad Merrill
Brad Merrill is the founder and former editor of VentureBreak.