'Square Cash' Introduces Apple Watch App For Easy Money Transfers on the Wrist
Square today announced that its money transferring app "Square Cash" is making the leap to Apple Watch, allowing users to make and receive money transfers on Apple's new wearable device (via TechCrunch). The original iOS and Android app allows users to send money to family and friends for free (business transactions are charged a 1.9% fee) by linking a Visa, MasterCard, or Discover debit card within the app.
The company promises a more streamlined money exchange with the new Apple Watch app that prioritizes favorite contacts and presents users with accept or deny transfer messages right on their wrists. After choosing a contact on the app's home screen, users can input their desired amount using a combination of six values: $1, $2, $5, $10, $20, and $100.
Square also lets users collect money from others without the need of doling out personal information they're only comfortable with family and friends knowing. Called a "Cashtag," the service essentially lets each user claim a unique username -- all beginning with a "$" -- and share it with the person from which they want money.
Those with the Square Cash iOS app already installed -- and automatic downloads turned on -- can expect to see the Apple Watch app on their smartwatch starting today. Everyone else can download the app for free on the App Store [Direct Link].
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