Beating Venmo, Cash App Lets Teens Use Its Payment Services
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(Pocket-lint) – Square opened its C ash app to teens, announcing that people over 13 can use the app to spend or send money to friends.
The app, which was previously only available to people aged 18 or over, competes directly with Venmo, which does not allow people under the age of 18 to use its service. Minors who use the Cash Application must always obtain permission from their parents or guardians to use the Application, and they will not have access to everything the Cash Application does, including the ability to invest or use Bitcoin.
Square also said teens can’t deposit checks.
The main feature that teens will love and probably use is peer-to-peer transactions. If they need to share the cost of a pizza with friends, they can just use the Cash app to send them money. They also get a customizable debit card that they can use in stores, as well as support for them. Apple Pay and Google Pay.
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Square said parents and guardians can view each transaction and transfer through monthly statements. Parents and guardians can also deactivate their teenager’s Visa Cash Card debit card and Cash App account at any time by contacting support.
Keep in mind that Cash App is not the only service providing online banking or payment services to 13-year-olds. Apple Cash, for example, allows teenage users through a family option. But Cash App is still notable for being popular and owned by Square, which Jack Dorsey co-founded with Twitter.
Written by Maggie Tillman. Originally published on .