Q&A with the Cash App Pay product team: Ask us anything about Cash App Pay on Point of Sale!

[Tom]

Hello Seller Community!

We were thrilled to welcome Cash App Pay’s Global Product Lead, @deep, and Global Merchant Product Marketing Lead, @pcuttica, to answer your questions and hear your feedback about accepting Cash App Pay on Square Point of Sale on October 3, 2023. (Note: We’re planning a separate product Q&A for Cash App Pay and Square Online in the future!).

Here’s a bit more context from @pcuttica:

In late 2021, we launched an update giving Square sellers the ability to accept Cash App Pay as a method of payment on both Square Point of Sale and Square Online. Since then, we’ve seen hundreds of thousands of sellers accept payments via Cash App Pay — whether that be through Square Register, Square Stand, or simply through the Square Point of Sale app on sellers’ mobile devices.

Recently, we updated the checkout flow on Square Stand so that the Cash App Pay QR code is persistently displayed alongside the NFC tap and CC chip reader, offering seamless payment flexibility for your buyers and allowing them to pay you the same way they're already paying their friends — via Cash App!

Did you know that Cash App is the #1 finance app in the App Store and fastest growing digital wallet? Tap into the embedded commerce and shopping behavior of the 54 million monthly transacting actives who rely on Cash App to send, spend, and save their money.

By accepting Cash App Pay, not only are you providing additional payment flexibility to your buyers, but you’re also reducing checkout friction by facilitating fast, simple, contactless in-person payments from your point of sale. And the best part, there’s no complicated pricing to process Cash App Pay — just the standard processing rate of 2.6% + 10 cents (card present) or 2.9% + 30 cents (card not present). Plus, Cash App uses the same fraud detection infrastructure and safety standards that monitor millions of daily Square Point of Sale transactions. Cash App also assumes liability for consumer fraud (as covered by Regulation E, exclusions apply.).

Note on account-specific questions: For your privacy and security, we are not able to address issues related to specific account status details in our public forums. If you need account assistance, please contact Square Support and they'll be able to take a deeper dive.

[#2]

Hello everyone, thank you for joining the product Q&A! Your questions were insightful, and we appreciate your participation. 💯

Although this event has concluded, we know that there are a few outstanding questions. If we didn't get to yours today, stay tuned as the Cash App team will follow up later this week. 🙏🏻

[mpmpmp22]

This is super exciting! 

Thanks for doing this @deep & @pcuttica! 

My question is, what's one underrated cash app feature that not a lot of people utilize?

[deep]

Hi @mpmpmp22, thank you for the question! Cash App is committed to making money more relatable, instantly available and universally accessible. In that mission, we provide a lot of tools for our customers to use Cash App as their primary bank account. This includes the ability to directly deposit your pay check into Cash App, invest in stocks (as low as $1) or Bitcoin, plan for a large trip or purchase through our savings feature and even give teens a way to spend with parental controls.

[mpmpmp22]

Thank you!

[TrackSelector]

Will we be able to accept Bitcoin via CashApp for payment, and if not now, when do you project that to be integrated?

[deep]

Hi @TrackSelector,

At this time, Cash App Pay can only be funded by your fiat stored balance or linked debit card. Customers can sell any BTC they hold in Cash and convert to fiat stored balance to fund a Cash App Pay transaction if they wish.

[Shanadpv123]

Can my cash app payment be added to my square bank account? Are they separate?

[pcuttica]

Hi @Shanadpv123,

Good question! Payments received via Cash App Pay through your Square Point of Sale are treated the same as other “card present” payment transactions, be that via credit card, debit card, etc. So the answer is: Yes, money received via a Cash App Pay transaction will land in your Square bank account—assuming you have a Square Checking Account and that’s where you’ve configured your transfers to be deposited. You can learn more about Square Checking and all transfer options with Square—whether you are using Square banking or not—in this article.

[EnergyWithin]

Questions: If you already have a Cash App account, do we need to integrate it into Square or set up a new one? If we need to integrate the original account, how?

Will Cash App still accept payments offline like Square does if loss of internet accessibility? 

Will we have reports in Square separating the transactions Cash App vs Square POS?  

Will the payments be dropped into bank the same timeframe as Square offers?

[pcuttica]

Hello @EnergyWithin,

Great questions! 

• Cash App account: There is no need to connect your Cash App account to Square in order to accept Cash App Pay payments. Rather, this integration allows the following use case: If a customer chooses to pay with their Cash App account at your business, you are able to accept that payment through your Square Point of Sale. 
• Offline mode: Cash App Pay requires both the merchant and the customer to have network connectivity.
• Reporting: All payments completed via Cash App will be reflected as the Cash App tender type in your sales reports. Cash App payments will appear in reports found through your online Square Dashboard and the mobile Reports applet on POS.

Transfers: Payments received via Cash App Pay through your Square Point of Sale are treated the same as other “card present” payment transactions, be that via credit card, debit card, etc. Your options for transferring that money into your bank account are the same as well. You can learn more about transfer options with Square in this article.

[BPFDG]

I didn’t realize that I could take Cash App payments through Square. I see it now listed under payment methods in the app. 
•Does the customer pay by scanning the QR code that pulls up or do they pay using the reader? (I have the 1st generation version S193 reader for contactless & chip)
•Are the processing rates different for processing a Cash App payment through Square vs using Cash App?

•What are the benefits of processing a Cash App payment through Square vs through Cash App?

•Can I set up in the Square app to automatically apply the processing rate to the sale and if they pay cash, manually remove it per sale?

•Will the credit card & Cash App payments be lumped together and deposited into my bank account as 1 transaction?

•Will I need to set up banking information for Cash App deposits or will it just use what I already have set up in Square?

[pcuttica]

Hi @BPFDG,

Great questions! Answers below:

• How do they pay: The customer pays by scanning the QR code. Cash App Pay would not work on your 1st generation S193 reader; however, you can accept Cash App Pay via the Square Point of Sale app on a mobile device (available on both iOS and Android). To accept Cash App Pay on your POS app:
  • When the customer’s cart is fully built, tap Charge $X.XX.
  • Select Cash App Pay as the payment method.
  • A QR code will generate on your screen. Show the customer your screen so they may scan the QR code with their mobile device. Learn more under “Accept Payments” in this help article.

• Processing rates: There’s no complicated pricing to process Cash App Pay payments — just our standard transparent processing rate of 2.6% + 10¢ (for card-present transactions) or 2.9% + 30¢ (for card-not-present transactions). If you have a custom processing rate on your Square account, you’ll continue to process Cash App payments at that rate.

• Benefits: Accepting money through your personal Cash App account is different to accepting Cash App on your SQ account. Accepting funds in your personal Cash App account is treated like a peer-to-peer payment. There is no fee for P2P payments but reconciliation and settlement to your business bank account could be an issue as Cash App does not provide tools for personal accounts to act as business accounts. You may also have tax implications for accepting business payments on your personal account. Accepting Cash App transactions on SQ will avoid all those potential issues. Money from your customers Cash App is immediately processed and reconciled within your SQ account. You can see Cash App transactions among your other card transactions and funds are settled into your business account making reporting easy. 

Transfers & Banking: Your last two questions are related, so tackling them both together! Payments received via Cash App Pay through your Square Point of Sale are treated the same as other “card present” payment transactions, be that via credit card, debit card, etc. Your options for transferring that money into your bank account—whether that is an external bank account or a Square Checking account—are the same as well. You can learn more about transfer options with Square in this article. You do not need to set up a separate account for Cash App deposits.

[AdventureLux]

What's the limit of 'Filed Fraud Disputes' before it affects the seller? 

[deep]

Hi @AdventureLux, Cash App provides sellers with consumer fraud protection. If it’s determined that consumer fraud has occurred, Cash App will take on 100% liability for this and sellers will not be charged.

[BellesIceCream]

As far as fees the above article states "the standard processing rate of 2.6% + 10 cents (card present) or 2.9% + 30 cents (card not present). "

if the customer is using the app, how would the higher fee ever apply? My assumption would be the "card present" fee would always prevail, is that correct?

Thanks

[wildheartbrew]

I’m curious about the status of Cash App as a payment method in Square for Restaurants. We’d love to offer it. 

Thanks!

[deep]

Hey @wildheartbrew,

Thanks for the question! Cash App Pay is currently not available via the Square for Restaurants Point of Sale system. However, we are hoping to add support for this in the future. Currently, Cash App Pay is available for businesses processing payments on Square Register, Square Stand, Square Terminal, Square Online, Square Appointments , Square for Retail, Square Invoices and the Square Point of Sale app for iOS and Android devices.

[pcuttica]

Hi @BellesIceCream,

Interesting question, and we understand that this is nuanced (and maybe slightly confusing as written). Let us clarify: If the customer pays by scanning the QR code on a Square Point of Sale then the rate is 2.6% + 10 cents. We would consider this “card present” meaning the customer is physically present with you/your business and they are scanning the QR code on your device—whether that’s a Square Register, Square Stand, Square Terminal, or capturing the QR code on your personal device via the Square Point of Sale app. On the other hand, if the customer is making a purchase via Square Online—or via other e-commerce sites with which Cash App Pay is integrated—and therefore they are not physically present with you/your business, then we would consider this “card not present” and the rate is 2.9% + 30 cents.

[Buffalo3Pay]

With Cash App would we be required to collect sales tax?

Would you also be able to process refunds with Cash App?

[pcuttica]

Hi @Buffalo3Pay,

Great questions! 

Sales Tax: Yes, a transaction processed via Cash App Pay is a standard transaction, just like accepting a credit card or debit card, and therefore it would require sales tax if that tax is required in your location.

Refunds: Yes, you are able to process refunds just like you would be with other tender types. Cash App Pay transactions originating from the stored balance in the app will be refunded to the customer’s Cash App account balance. Cash App Pay transactions originating from a linked debit card or bank account will be refunded to the original card or bank account.

[ValB]

Does Cash App offer financing or multiple payment options for our customers? If so, what are the terms and what are the qualification requirements for new Cash App customers. We sell furniture so will their approval amounts be sufficient to purchase items over $800?