It’s not available in Canada yet, but…it’s on its way. It’s an app for you Apple and Android devices called Square Cash.
I stumbled upon this article at Newswer.com
Yes it is true that most of us can already do this through our mobile banking apps here in Canada, but too be honest I didn’t know that until recently. The difference here is that it is totally free thru this app. From what I understand, when doing it through your banking online, there is a service fee that yo have to pay.
Square’s latest payment service is as easy as sending an email. Sqaure Cash was set up by Twitter co-founder Jack Dorsey.
To send cash to someone else, users set up an account through Square by linking their debit card to their email address. Payments are then sent via email—addressed to the recipient, with email@example.com in the CC field and a dollar amount in the subject of the email. One or two days later, the recipient will get an email from Square Cash asking them to link a debit card. At that point the payment will clear and be deposited into that person’s account (All within 1 or 2 days)
The best thing about this…no service fees. If you send $25 to someone, it only costs $25. Could this be the end of credit cards???
Here’s a quick run through.
As I said, the app isn’t available in Canada yet, but…when it gets here, would you use it? Or would you trust it.
CLICK HERE for all the details from Square Cash