Square started off with an easy-to-use dongle that allows merchants to accept credit cards with their mobile phones. But since 2009, the company has expanded beyond its original scope. Its line of products now includes Square Cash, which lets users email money to another person's bank account; Square Order, a feature that lets customers pick up purchases they ordered ahead of time; and Square Capital, cash advances for small businesses. Further fleshing out its payments ecosystem, the San Francisco startup on Thursday debuted Square Invoices, an invoicing system for vendors who don't charge at the point of sale.
With Square Invoices, users can easily compile bills and email them to clients. Much like Square Cash, recipients can pay their bills by entering their credit or debit card numbers, and the funds are deposited into the merchants' accounts within one to two business days. Clients can also pay with check or cash, which the merchant can record manually. The feature won't cost payees anything, but vendors will be charged a 2.75% fee.