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Contributor
Posts: 150
Registered: ‎08-24-2012

Square Cash (app). How do they make money?

Hello, anyone know how square makes money off their new square app? I really want to like it but when they are offering everyhing 100% free and for nothing in return I am suspicous. Other free services (such as gmail, youtube, free tv,  radio etc) all have ads to pay for it and so I can depend on my gmail still being there but what about this? No fees whatsoever? No ads? Don't even need to sign up for an account! Seems to good to be true.

 

Any thoughts?

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a JP Morgan Palladium card
Super Contributor
Posts: 7,132
Registered: ‎02-27-2013

Re: Square Cash (app). How do they make money?

They may eventually introduce fees. Right now is kinda a promo period to market to customers, and also for them to put their systems to test.

They only allow money to be withdrawn from a debit / checking account only if I'm not wrong. The fees for debit transaction are a lot lower compared to credit cards so they aren't losing as much money.
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