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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.
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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.
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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.
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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.
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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.
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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.
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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.
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