23 July 2016
Find out more

Square launches e-mail cash transfers; Google shutters CheckOut

21 May 2013  |  7713 views  |  0 woman at workstation

Square is to move into PayPal's core territory with the invitation-only launch of a P2P email cash transfer service, dubbed Square Cash.

Users can send cash by registering their debit card with Square, sending an e-mail with the recipient's name in the "To" field, and CC'ing pay@square.com. The dollar amount goes in the subject line. It costs 50 cents a transaction to send money, but nothing to receive. Recipients must also link their debit card to get clear funds within 48 hours.

Square's push into e-mail funds transfers comes just a week after Google announced a similar feature for users of its popular Gmail service.

The search engine giant also launched two new APIs for its Google Wallet platform to simplify the online shopping experience for consumers, effectively sounding the death knell for Google CheckOut, the Web-based payment system it launched seven years ago.

In a statement, Google says it will shut down CheckOut in six months time "as we transition to Google Wallet".

The company says it has partnered with Braintree, Shopify and Freshbooks to offer merchants who do not have an account with an alternative payments processor discounted migration options. Those who do have payment processing are invited to apply for Google Wallet Instant Buy, which offers a fast buying experience to Google Wallet shoppers.

In shuttering CheckOut, Google is moving away from its long-standing ambition to stand as the middle man between merchants and consumers and leaving the field open to PayPal, Amazon and a host of other ambitious start-ups looking to disrupt the traditional payments chain.
KeywordsE-COMMERCE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Google to use Gmail and Chrome assets to push Wallet uptake

Google to use Gmail and Chrome assets to push Wallet uptake

16 May 2013  |  7535 views  |  0 comments | 15 tweets | 11 linkedin
PayPal and Square jostle for control of the cash register

PayPal and Square jostle for control of the cash register

15 May 2013  |  8644 views  |  0 comments | 8 tweets | 5 linkedin
Google Wallet chief Bedier quits

Google Wallet chief Bedier quits

09 May 2013  |  8547 views  |  1 comments | 16 tweets | 5 linkedin
Square raids PayPal for retail expertise as POS terminal business builds

Square raids PayPal for retail expertise as POS terminal business builds

02 May 2013  |  7092 views  |  0 comments | 14 tweets | 1 linkedin
PayPal launches iPad point-of-sale device

PayPal launches iPad point-of-sale device

14 March 2013  |  13381 views  |  0 comments | 25 tweets | 13 linkedin
Square adds gift cards to Wallet app

Square adds gift cards to Wallet app

10 December 2012  |  6651 views  |  0 comments | 10 tweets | 1 linkedin
PayPal takes potshots at mobile wallet

PayPal takes potshots at mobile wallet

15 October 2012  |  12681 views  |  10 comments | 1 linkedin
Google launches credit card for buying AdWords

Google launches credit card for buying AdWords

08 October 2012  |  5581 views  |  0 comments
Google kills off Wallet's pre-paid card

Google kills off Wallet's pre-paid card

11 September 2012  |  8017 views  |  3 comments
Google Wallet moves to the cloud to support all credit and debit cards

Google Wallet moves to the cloud to support all credit and debit cards

02 August 2012  |  17137 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit capgemini.comFind out more

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
7739 views 14 comments | 32 tweets | 36 linkedin
hands typing furiouslyWhat Every FinTech CEO Should Know About R...
7652 views 0 | 14 tweets | 8 linkedin
Santander doubles down on fintech fundSantander doubles down on fintech fund
7477 views comments | 22 tweets | 28 linkedin
Brexit-scarred London fintech startups enquire about moving to BerlinBrexit-scarred London fintech startups enq...
7325 views comments | 16 tweets | 16 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
7321 views 3 | 19 tweets | 6 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job