The Verge – 6 November 2013
Just when you started thinking that email, smartphone and debit card are so saturated and have very room to invent, Square team comes up with Square Cash, a very energetic and frictionless way to send money.
P2P through email has been for years; however for each transaction consumers have to open an app or login to their bank account & go through the monotonous P2P process. Without any more new login credentials or apps and by just using the ubiquitous email as the medium, Square Cash has moved P2P to the next level of simplicity. Users can send and receive money through just a click of email at no cost. While Google launched sending money through Gmail, Square has followed the same path & made it simpler by opening it to all mail platforms.
Square may eventually use Square Cash to destruct the multibillion gift card segment by sending gift cash for any occasion with the ease of sending an email. What will be interesting to watch is how Square team links the consumer Square Cash product with the Square Register while maintain the simplicity and reducing further friction in a payment transaction.
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