Square's new P2P service, Square Cash, is meant to be so straightforward that you don't need an app to use it — but Square published an app anyway. The Square Cash app joins a growing suite of Square apps for merchants and consumers.
Some Assembly Required
The instruction screen explains what a consumer needs to have on hand to send funds. Square Cash requires a Visa or MasterCard debit card and an email address. The P2P system doesn't work with credit cards, prepaid cards or ATM cards.
Step by Step
The app also explains what it does and does not do: it will pre-fill an email, but the user must still complete the process in the phone's email client. The user must also provide a debit card to fund the transfer.
By the Numbers
After the user has read (or skipped) the instructions, Square Cash asks the user to type in the amount to be transferred.
Almost Done
The app then summons an email compose window, with Square copied as a recipient. The sender must then type a recipient's email address and add to (or delete) the content in the message body.
One Last Step
If the user is new to Square Cash, the system sends a follow-up e-mail requesting a debit card account number, expiration date and ZIP code. This card is used to fund the transfer. Users can also provide additional information to extend the transfer limit to $2,500 a week from the default $250 a week.
Missing Pieces?
Square's P2P system isn't tied to its other products — Square Cash users must enroll their cards separately with the Square wallet app, for example. But if Square attracts a big enough customer base to Square Cash, it can certainly build on that foundation.