
Finally, and optionally, you can invite friends to sign up, netting you a $5 reward for each one who does. Next you have to enter a debit card number, and then choose a name for your $Cashtag-more on this later. To open a Square Cash account, you can enter either your mobile number or email-you don't to have a mobile number. Square Cash has an ace in the hole, though, with simple entrée to online stock trading and Bitcoin purchasing-both activities that have soared during the COVID-19 pandemic. Competing with those platform players is an uphill battle, and the same goes for the better-known Venmo and PayPal, not to mention Zelle, which is featured in many bank websites and apps. For that kind of functionality, you have to stick with Apple Pay, Google Pay, or Samsung Pay. Disappointingly, it doesn't offer a contactless way to pay Square card readers at local merchants. The app is similar to Venmo, letting you pay and request money from friends. The company also has a mobile payment app simply called Cash (we'll stick with calling it Square Cash here, for clarity). Most of us are familiar with Square as the company that makes those white credit card swiping machines used by many cafes and small merchants.
