You guys know, I don’t often write about technology, but there are a few apps lately that have been on my radar that are worth mentioning, so I figured, why not jump in for a #TechieThursday this morning?

For those of you who use person to person payment apps, like PayPal or Venmo, for both everyday and business transactions (hey to all my bloggers and freelancers out there!) today’s topic is for you. 




I have to admit, I’m kind of a tough critic when it comes to apps. Because most people don’t actually use most of them. Or maybe there is too much redundancy in the app world–everyone and their mother has an app, claiming it’s going to change the world. (Except, the world never actually needs it.) It’s a tough world out there for apps these days. 

But when I heard about SquareCash, I was actually really intrigued. You know those little tiny white squares that small businesses pop on their phones to run credit cards? Yep, it’s that company. (Which has saved my life ever since it came on the scene, as a girl who NEVER has cash on her! Luckily businesses who used to be cash-only now accept cards, thanks to Square.) 

Essentially, SquareCash is their app for the everyday consumer or small business owner, and allows people to transfer money to each other in about 5 seconds. It also allows freelancers, entrepreneurs and small business owners a super easy way to get paid. 

Then I was like, oh wait. That’s exactly like PayPal and Venmo. Not impressed. 

But digging deeper, there are some benefits to this that the other two don’t have. So if you’re a fan of either, this is definitely worth looking into! 

 

SECURITY

I had been using Venmo for months before I realized the “social” function was broadcasting my every transaction to the world. I understand this is a function you can turn off, but the fact that it was automatically “on” just completely skeeved me out. There’s no worry of that happening here, so that made me feel safer. 

Additionally, SquareCash has a function you can turn out where it requires you to enter the 3 digit code on the back of your debit card prior to any transaction, for added safety measures. 

CASH TAGS

Perhaps the coolest part of SquareCash, is that you have a unique URL that goes directly to your Square “page” if you will, so getting people to pay you is a snap. You could even use it on social media if you were, say, raising money for a cause and asking people to donate. If you’re a freelancer, it’s super easy to include on your invoices. (Cough. Mine is Cash.me/$JessKeys, you know, if anyone just feels like giving me free money. JUST KIDDING.) 

Cashtags also make it super safe to transfer money to people you don’t know that well. For example, if you buy a dining table on Craigslist and don’t want them to know your real identity. (Because #CraigsListKillers.) You could make a more generic hashtag, like Cash.me/$HeyItsJess, and they’d never have to know any of your personal details. 

INSTANT DEPOSITS 

Another feature I don’t like about Venmo and PayPal is that the money sits there until you cash it. Which A. weirds me out to have money “sitting” in an app, and B. I typically forget and come to realize 2 months later that I have hundreds of dollars that I could have transferred to my bank account. I like that SquareCash deposits your funds instantly, so there’s no money getting held up in cyberspace. 

SMALLER BUSINESS FEES 

With all three apps, sending and receiving cash from peers and friends is free. But conducting a business transaction on PayPal? You’ll get slapped with a 2.9% fee. (UGH.) With SquareCash, you’ll pay only 1.9%.

That might not sound like a lot, but those fees add up quickly. For example, with PayPal, it will take $15 out of every $500 payment transaction. SquareCash will only take out $9.50 Think of how many extra lattes you could buy cutting down on all those fees per month! 

AESTHETIC AND FUNCTIONALITY

I will totally admit, I’m a branding snob. I totally judge a book by it’s cover. That’s one thing that pains me about Venmo–it’s NOT pretty. PayPal, yes, it’s white and minimalistic and I think they have decent branding, but SquareCash takes the cake from an aesthetic standpoint. It’s also by far the most intuitive app to use. It’s very straightforward, and from the second I downloaded it, I knew how to use it. 

 

Overall, I think the only downfall of SquareCash is that it’s not more widely used. Venmo and PayPal definitely have points on them just in terms of popularity, but I hope that changes soon–as it’s definitely my P2P payment app of choice. 

 

Would you try out SquareCash? What features do you like/dislike about all three apps?