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Square might add banking features to Square Cash (SQ)





Square is reportedly considering adding banking services to Square Cash, its peer-to-peer (P2P) payment platform, according to CNBC. Earlier this week at the Recode Code Commerce conference, Square’s CFO Sarah Friar said that the firm is considering ideas such as savings products and enabling customers to trade stocks on the platform, which she said were spurred from the amount of money consumers store in the app — customers hold a combined $200 million in balances in their Square Cash accounts.

Square has explored a banking license in the past. Last year, Square read more >>>

Source:: BusinessInsider.Com

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