Square Cash was launched two years ago but now it seems to be gaining traction by putting a social spin on mobile payments. Users of Square Cash can be identified by unique $Cashtags rather than phone number or email. Simply get your friends’ $Cashtags and send them money instantly with just a few taps. This way to identify users will also be a great help for the arrival of businesses on Square Cash. The service allows businesses to accept payments with a fee of only 1.5%, meaning that a considerable amount of revenue is retained.
Some of the world’s largest non-profit organizations are taking advantage of $Cashtags. Wikipedia, (RED), and The USO are among those already using Square Cash.
Anyone can post their $Cashtag in the form of “cash.me/$cashtag” for an easy way to accept payments. Square assures its users that data is protected with PCI-DSS level 1 certification and has fraud protection in place to stop unauthorized charges.
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Source: Square
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