Coming on the heels of the news regarding the end of Google Wallet, Square has announced they are launching a money transfer via email service. Users can send the receiver an email with the funds amount in the subject line. CCing email@example.com will link the funds to their account and upon receipt the receiver can click accept and the funds will be transfered to their account in 24 hours. The transfer can be canceled anytime before the recipient accepts the transfer.
The service is in closed invitation at this time, but will garner attention with the gap in the market left by Wallet, and what will come next in the market to fill the gap of electronic transfers outside of traditional wire services.
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