Following the launch of their peer-to-peer online payment platform in 2013, Square Cash is extending their services to businesses too with $Cashtags. Using this new system, any company can take payments immediately from online customers.
$Cashtags consists of a unique identifier that allows brands to obtain payments privately and securely via Square Cash. Businesses create and register their own memorable $Cashtag name using the app or website. From there, they just share it with customers. This could be through business cards, websites, Twitter and other social media platforms or however else is deemed appropriate. Companies pay 1.5% of the transaction. Customers can also use the app or site to make their payments or donations. This suggests in addition to for-profit firms, non-profits and charities as well as artists could use this online payment platform.