Square Cash will now allow you to pay businesses and non profits in addition to your friends. Square has also introduced a feature named Cashtags, which can be used to pay a business without any other information except a hashtag.
With its latest tool, the company is doing away with paper checks and in the process setting the groundwork for in-store digital payments down the road. Square Cash for Businesses is aimed at music teachers, dog walkers, and anyone else you might be paying with a check (if you’re not already paying them with PayPal). Money sent from a customer to a business on Square Cash will immediately be deposited in a bank account as opposed to a holding account. Plus, businesses will only have to pay a 1.5 percent fee for each transaction; through Square register, businesses pay 2.5 percent. The company is also introducing a feature called Cashtags, which enables businesses to get paid without giving away personal information (ie. phone number, address, email etc).