Cash App by Square, Inc. allows you to give your friends and family cash electronically for free! Do you need to pay someone for lunch, a baby sitter, split a cell phone bill? This app does it in just a few taps. It is easy, functional and provides quick user benefit.
If you need to pay a friend for lunch, split the cost of groceries, or pay a babysitter you can electronically send money from your debit card to their bank account using your phone. It takes about 2 seconds after going through a quick setup process (basically entering your debit card # and email address). There is no fee for using Cash for personal use.
Cash Pro, $Cashtags and Cash.me were released and introduced to the market as part of Square, LLC’s Cash App on March 23th, 2015.
You can also set up the Cash App for Business, which deposits funds directly into your business banking accounts removing some invoicing, mailing payments, collections and “cashing out” process. Cash for personal use is free while Cash Pro for Business use is 1.5% per transaction fee ($1.50 on $100) which can be cheaper than going to some ATM’s that charge $3.00 to retrieve cash out of your account.
This is great for restaurants, ball games, concession stands, art & craft shows, etc. You don’t need a scanner or a debit card present in order to collect payment!
Cashtags allow you to have a unique identifier that anyone can use to send you a payment directly to your bank account. Creating a personal cash tag takes less than one minute and you get a cash.me/$cashtagname web address and account. From here anyone can securely send you cash directly from their debit card to your bank account you associate with the cashtag. You can give your cashtag name or address to anyone to get paid. There are no logins or card scanners required.
You do not have to have a Square account or a Square reader in order to use Square, LLC’s Cash App. You don’t even have to swipe a Debit Card.