Square users are now able to email cash instantly to a recipient via their debit cards. To access the service, called “Cash,” all you have to do is register your debit card details with the app, which works on iOS and Android devices. When you want to send someone some money, you send them an email, cc-ing email@example.com. Simple!
Google Wallet has had this system in place for a few months now. But can both firms convince Americans this method of sending cash works? The system is already fairly prevalent in Europe, with many firms offering up a cash-via-Internet service.
Square claims the system is 100% secure, although it didn’t respond when asked about its anti-spoofing methods. This happens when you’re duped via a forged address, a technique used successfully by some spammers, who send out emails purporting to be from PayPal, eBay, and even delivery firms such as UPS and DHL.