Square extends e-checking to businesses in the US

Square is launching Square Cash Pro for Business as an offshoot of its Square Cash personal e-checking service, introduced in 2013.

Retailers using Cash Pro can accept payments from any Cash customer via the Cash app, via email, with $Cashtags or online from Cash.me. $Cashtags enable businesses to accept electronic payments without revealing an email address or phone number.

Theres no limit to the amount retailers can accept with Cash Pro. However, Square cautions that Cash Pro is a lightweight application designed for debit card transactions, and credit card or cash payments will still require the Square Register solution. Square Cash will deposit payments directly into bank accounts and collect 1.5% of each transaction as a processing fee.

In recent news, Square has shut down Square Order, a service that enables customers to pre-order drinks and food from local vendors.