Square extends e-checking to businesses

San Francisco – Electronic payment provider Square Inc. is extending its Square Cash e-checking service to businesses. Square is launching Square Cash Pro for Business as an offshoot of its Square Cash personal e-checking service, introduced in 2013.



Retailers using Cash Pro can accept payments from any Cash customer through the Cash app, via email, with $Cashtags, or online from Cash.me. $Cashtags allow businesses to accept electronic payments without revealing an email address or phone number.



There's no limit to the amount retailers can accept with Cash Pro. However, Square cautions that Cash Pro is a lightweight application designed for debit card transactions, and credit card or cash payments will still require the Square Register solution. Square Cash will deposit payments directly into bank accounts and collect 1.5% of each transaction as a processing fee.