The latest iOS version of the Square Cash app allows Apple Watch users to make person-to-person (P2P) payments, using virtual stacks of cash, in just a few taps of the device.
This new development will open up P2P payments to Apple Watch users, who can already make payments with Apple Pay, but only at the point of sale. The app allows users to assign a phone number to their debit card and those of their friends and family to make easy payments.
With the service’s ‘cashtags’ it’s also possible to create a unique username, beginning with ‘$’, and share it with the person transferring money, avoiding the need to exchange any other details.
Square Cash launched in 2013 as an email payment service, with users adding a cash value to the subject line of messages. Square introduced a text payment service a year later and in May this year the company launched Square Cash for Business, allowing customers to pay companies without the need for a credit or debit card.
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.
Lloyds has launched biometric finger print authentication for mobile banking.
Chase, the US consumer and commercial banking business of JPMorgan Chase & Co, has signed a multiyear agreement with Best Buy, that will see the electronics retailer accept Chase Pay in its stores, on BestBuy.com and in the Best Buy app.