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Square Card — Access your money as soon as you make a sale
When you sign up for Square Card, you get real-time access to your Square balance. Use your business debit card anywhere Mastercard® is accepted, with no monthly fees, sign-up fees, or annual fees. It’s everything you expect from Square.
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@rrhoover Well put! Although I think the growth of debit card offerings can be an expansion to a more physical solution, here it seems more of an expansion to a more "direct" solution. Before this offering, a business would have to manage sales revenue into a bank account then out via debit or another credit card for expenses. This allows the business to go almost directly from sale to expense. Fewer steps in the funds flow and less latency.
This is a win-win for both Square and their customer. SMB’s get back their money instantly and Square make money on the debit card interchange fees... An clever way to turn a cost center to a profit center for Square!
Square makes 2.75% when they charge a customer's card. They pass this money to the business owner via the square card and again make 1.6% as debit card interchange fee! ...It almost double dipping 😉
I am definitely intrigued to give it a try.
Pros:Looks simple and easy to use!
Cons:another physical card! But it's still good in a way. World is not ready for 100% digital or virtual cards (including me!)
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