Square’s not just for businesses apparently, as an invite-only page for a product called “Square Cash” has popped up. Not many details are known about it, but we’ve reached out to the company for comment.
UPDATE: A Square representative sent us the following statement on Square Cash: “We’re excited to share Square Cash with our friends. We’ll continue to invite others to try it out in the coming weeks.”
The splash page shows an email to a friend with a $25 payment, with a Square email address in the CC line:
There’s only the promise of email sending at this point, but you can imagine that this could become a permanent part of Square’s native apps at some point.
This approach is similar to other personal payment solutions, like Venmo and PayPal. Google wants you to send payments to people via Gmail and Wallet. Even Visa got into the act at one point. You can view the page right now, and that’s it. Sending money to friends is a social experience that really hasn’t been cracked yet, and it makes complete sense that a service like Square step up to take the crown. The space is officially hot again.
The page promises that you can send money directly to someone’s debit card, assuming that they’re also signed up for Square:
The invites are being controlled by the company, not even allowing you to enter your email address. There’s also a help page set up for the “Cash” product already, but it’s a bit bare, stating: “Square Cash is the easiest way to send money to anyone, using just email and your debit card.”
The company just announced a new, pretty iPad cash register for businesses, but Square clearly wants to be in all of our pockets…and bank accounts.
While it’s hard to decrypt CEO Jack Dorsey’s tweets and Vines, Square Cash might have been the reason for this recent little celebration:
Celebrating an excellent little something. vine.co/v/b9JqebYq1wj
—Jack Dorsey (@jack) May 20, 2013
We’ll let you know when we get our invites.
