Square Cash now supports peer-to-peer payments sent via text message

Gigaom

When [company]Square[/company] launched its Cash peer-to-peer payments service last year, it made transferring funds as simple as sending an email. Apparently that wasn’t easy enough. A new update to Square Cash now lets customers transfer funds through a text message.

Square doesn’t use SMS to actually move money around. Rather, it links customers’ Cash accounts and their associated debit cards to a phone number – just as it previously linked them to an email address – and uses SMS as the notification and verification tool.

Square Cash SMS app

While Cash users could make an email payment through any web, mobile or PC email client, the SMS service requires the Square smartphone app (available on iOS and Android). You can send funds through the Cash client to anyone in your phone’s contact list or just enter a phone number. The recipient, in turn,  receives an SMS notification of the pending transfer. If…

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