For a great period of time, I have erroneously convinced myself that online payment systems had reached its innovation ceiling; more so after putting to use PayPal features. With Square Cash -the new kid on the block churning out features at unprecedented levels, are taking a dig at the big boys in the industry (PayPal, and Venmo) and I am forced to reconsider my stand.

Square Cash is not a new concept. It’s been here for a while (this is the fourth year since inception) ogling for a piece of the digital wallet pie. As aptly put by Leonardo da Vinci, “Simplicity is the ultimate sophistication,” the creators of Square Cash in their coveted wisdom deem fit that sending money should be as simple as drafting and sending an e-mail. Voila! Your dinner debt that your pal owed you is settled.

However, simplicity shouldn’t be misconstrued to imply a laid-back approach to security breaches. Square Cash has buttoned up security and meets any and all federal regulations to ensure your critical information remains secure.

The brains behind Square Cash have done it before successfully and securely using the Square Card reader. If you still don’t copy, try recalling the last time you bought a cup of coffee from the food trucks, and you swiped your card on a tiny white square gadget. The creation of Jack Dorsey.

“As Easy As ABC”


Peer to peer transfer of funds using a mobile platform or computer for that matter could never be easier as drafting an e-mail. To get started, if you choose to go through the Square Cash Web portal route, (for instance you want to put in a request for $25 to pay your phone bill from your brother), It’s a four step process:

  • Log in using your e-mail address or phone number. Using a verification code that will subsequently be sent to your e-mail box, you will be able to get access the home web page of Square Cash.
  • At the top of the dialogue box, enter the amount you would wish to request for.
  • Fill in the recipient e-mail address in the dialogue box-“To”.
  • Lastly, you have the option of leaving the message body blank or make reference to the cash request and the send. Cross your fingers as you hope your bro comes to your rescue.

If your bro accepts your request, Square Cash system will prompt him to enter his debit card details and transfer the funds to you. To cash the money for first timers, you will be required also to fill your credit card details which automatically verifies your account.

[Try Square Cash]

If that’s cumbersome for you, download the square cash app free of charge from the Android app store for Android-powered devices or iTunes for iOS devices. All these options are provided for in the home web page of Square Cash.

This app mode of operation is similar to the process described above. The App will take you through the steps by the prompt dialogue boxes. After keying in the amount of interest, you will be taken to the device e-mail interface.

Fill in the particulars of the recipient and send, seat back and wait for the feedback. For initial transfers, participants will be required to fill in their debit card details for funds transfers. It takes approximately 24 to 48 hours for a successful peer to peer transfer. However, for a 1% commission, you will be in a position to cash out instantly.

Square Cash Attractions

Why Square Cash over the other peer to peer (P2P) funds transfers? The answer lies in its simplicity yet cost efficient method to remit funds. No hidden costs associated with the P2P transfer.

With a debit card and an e-mail account to your name, you are good to go. Log in and begin sending and soliciting for funds from your defaulter’s circles.

The additional feature of the cash drawer virtually makes Square cash a “pseudo-bank.” Cash drawer will hold the funds in its virtual account thus preventing direct cashing of the funds to your debit card. With this account balance, you will be in a position to engage with e-commerce retailers including the masses favorite, Apple Pay via the square cash virtual card.

Potential Deal-Breakers

The confined geographical availability of Square Cash is currently for the United States only, which is a huge drawback if you do business internationally or have relatives that live in other countries. The “world is a global village,” so it’s said. Unlike PayPal that embraces this notion, Square Cash chooses to ignore it- at least for now.

Though this article, as majorly focused on P2P transfer, the 2.75% fees charged for businesses to receive payment is a damper. The average interchange transfer for ordinary debit cards is pegged at 2%.

Funds transfer caps at $2500 a week for amounts sent, however, if you intend to go above the $2500 cap, you will be required to disclose personal information (date of birth, last four digits of your social security number and links to your Facebook account! Woe unto you that is conscientious objector of social media platforms.). They do stress that you will only need to do this once and will not be asked again.

Though I am yet to experience any technical hiccup that would warrant getting in touch with the technical team at Square Cash, frustrated customer reviews point towards a snail-paced customer support department.

Verdict: Should You Or Should You Not Use Square Cash?

Though a refreshing idea, Square Cash is yet to come of age to knock off the big boys from the digital wallet top perch. Nevertheless, it’s gaining ground. If you wish to move relatively small sums of money fast and easy without the cumbersome holds that many of the big payment transfer systems utilize, Square Cash is for you.

Additionally, as a financial institution focusing on platform security for customers, you can be assured that money transmitters are required to go through a verification process to meet federal regulations. Just because it’s an easy process to transfer around money, does not mean a security risk exists for the end user.

You can’t beat the fact that it costs absolutely nothing for P2P transfer and or requiring an account to pull it off. With no contractual obligation and having a vote of confidence of above 4.1 stars out of five by user reviews, why don’t you try out the App and share your experience!

Comments submitted may be displayed on other websites owned by the sponsoring brand.

This is a sponsored conversation written by me on behalf of Square, Inc. The opinions and text are all mine.




  1. Being from a country where PayPal os worthless and very problematic to use, any other way use to be great in comparison, great article, a little longer, but with good info.

  2. Love Square Cash, way better interface vs. Venmo, quicker to send a payment and also love the additional features they have (Apple Pay, virtual card). Confused why people opt to use Venmo over this – predict that the tide will eventually turn.


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