SAN FRANCISCO—Square announced it is launching a new debit card for small business owners.
With the Square Card, which is free, business owners will be able to spend their Square balances immediately in stores and online, MarketWatch explained.
Previously, those who used Square for payment processing had to wait several days for their funds to transfer to their bank accounts, or else they could pay a small fee for instant access to their money.
Square earns transaction fees at the time sellers make their purchases with the card.