If you've ever fantasized about receiving money with the flick of a wrist, that dream is now kind of a reality. The mobile money exchange app Square Cash is now available for the Apple Watch.
Square Cash, which comes from Square – a company best known for making credit card readers for mobile devices –was introduced about two years ago. Similar to PayPal and Venmo, Square Cash lets you send and receive money from others directly to your smartphone and now, your Apple Watch.
With Square Cash, users are not identified by their email addresses or phone numbers, but rather by unique usernames – or $Cashtags, as the app calls them – which they create themselves. Users can send money to their friends at no cost, but for business accounts, Square Cash receives 1.9 percent of each transaction.
The main difference between the smartphone and Apple Watch versions of the Square Cash app is that the Apple Watch edition comes with some spiffy new dollar bill graphics, which should hopefully make shelling out some dough a bit less painful.
Though there are several Apple Watch apps having to do with finance, such as Apple Pay, Citi Mobile Lite and Mint, Square Cash is one of the first to deal with exchanging money with others. Neither PayPal nor Venmo have apps compatible with the Apple Watch yet, so staking out this new smartwatch territory could help Square Cash differentiate itself from its competitors in a major way.
Via: TechCrunch
