Square Introduces Debit Card for Businesses

Square has announced the launch of Square Card, a free business debit Mastercard that is designed to help businesses manage their cash flow by eliminating the time between making a sale and having the funds available to spend. The company says that the debit card also encourages commerce among the small business community by offering sellers a 2.75% instant discount on purchases made at other Square sellers.

Square Card offers flexibility to small businesses when it comes to accessing and managing funds, allowing them to:

• Use Square Card anywhere Mastercard debit cards are accepted to make purchases for their business with funds that are available as soon as they have made a sale.
• View card purchase activity alongside a record of sales in Square Dashboard and Square Point Of Sale.
• Access reporting features that separate business and personal expenses, making it easier to assess a business’s financial health and track business expenses for taxes.
• Export Square Card transaction data from Square Dashboard in downloadable formats for accounting purposes.
• Withdraw funds at ATMs for cash purchases or expenses.