Square Cash develops quick payment app to serve the Apple Watch
Square Cash, the popular iPhone app used for quick money transfers, has launched a new version designed for Apple Watch. The Watch version can be used to send money to top contacts via bluetooth, email, and other methods. It can also receive payment request which can be authorised by tapping &ldquo;Pay&rdquo;. The iPhone app is a free download and requires iOS 7 or later.
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Square on Tuesday released a new version of its Square Cash iPhone app, bringing the platform's quick money transfers to the Apple Watch.

The Watch version of the app concentrates on sending money to top contacts. It highlights nearby contacts at the top of the list, and also identifies any recent interactions.

After choosing a person to send money to, users must then enter the amount to pay in increments of $1, $2, $5, $10, $20, or $100. Payments can be sent via email, text, or Bluetooth, although the last option requires the person to be in close range.

The Watch app can also display payment requests, in which case tapping "Pay" will authorize the transfer automatically.

Square Cash is similar in concept to services like PayPal, letting users pay friends and businesses via online transfers. One difference is that money is deposited directly into a bank account, although only debit cards from Visa, Discover, or MasterCard can be linked to send or receive transfers.