Payment Methods

Square Launches Free Business Debit Card

Square Launches Square Card Business Debit Card

Square announced Thursday (Jan. 17) the Square Card, a business debit Mastercard aimed at helping businesses manage cash flow.

In a press release, the payments company said Square Card users get a 2.75 percent instant discount on purchases made at other Square sellers.

“As sellers make crucial spending decisions, we know that fast access to funds – and the ability to put proceeds from sales to use immediately – can help with overall cash flow management,” said Alyssa Henry, seller lead at Square in the press release announcing Square Card. “Small businesses have to be nimble. They don’t have the time to wait for funds to clear a bank account, or the resources to easily reconcile personal versus business expenses. Square Card addresses these pain points, and further extends Square’s ecosystem of products and services for small businesses.”

According to Square, the new debit card can be used anywhere Mastercard debit cards are accepted, enabling small businesses to use funds that become available as soon as they make a sale. They can view purchase activity alongside a comprehensive record of sales via the Square Dashboard and Square Point of Sale, and access reporting features that separate business and personal expenses. That makes it easier for businesses to get a sense of their financial health and to. track expenses, Square said in the press release. Users can also export Square Card transaction data into formats for accounting.

“With Square Card, the money I make from a photo session is at my fingertips so I can purchase the supplies I need to run my business – whether that’s coffee at a client meeting, props or a last-minute replacement lens,” said C.C. Nedrow, owner of Payton’s Photography in Montgomery, Illinois. “Tools available to sole proprietors like myself don’t always offer a simple way to separate business and personal expenses, so being able to do this all in one place with Square is amazing.”


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With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.