Square is expanding its Cash product to allow businesses to accept payments. In addition, Square is announcing a new identity system called Cashtags (technically $Cashtags) that allows people to claim a unique address that can be used by anyone to send cash directly.
I’ve been waiting for Cash to expand to paying businesses. Cash itself is one of the cleanest, lowest friction constructs I’ve ever seen to exchange money from one lazy person to another — and that includes actual cash. Institutionalizing the ability to use it to pay for services or goods only makes sense.
There will be plenty of people taking you through the press release for Cash and rehashing the party line. But it’s late the night before this embargo lifts and I’m running on a Monster energy drink and some peanuts. So let’s break down these announcements like friends. Just you and me, talkin’ bout postmodern…
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