What The Heck Are $Cashtags?

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Have you heard of $Cashtags? Nope, it’s not a name pulled straight from the Coachella lineup. $Cashtags is a new program being rolled out by Square Cash, which is essentially the same thing as Venmo. Using Square Cash, users can seamlessly send and receive money, straight to their bank accounts without paying any fees.

However with $Cashtags, businesses are now getting their chance accept payments just as easily. Any business, independent professional or Square Cash user can create their own unique $Cashtag, and from there, they can share that $Cashtag to accept payment. Add your $Cashtag to your website, business card, and even YouTube videos so that anyone purchasing from you can pay quickly, easily and securely. Whereas Venmo requires you to approve users that you can send money to and receive money from, $Cashtags let people and businesses receive money from anyone.

Check out this video that explains how $Cashtags work in full detail:

While most users can use $Cashtags without added fees, businesses will be charged a 1.5% transaction fee. We’ve yet to start using $Cashtags ourselves, but it seems like something that could certainly take off. What do you think? Will you use $Cashtags?