Square Cash lets you swap dollars via text message

Late last year, Square introduced a service called Cash that lets you send money to anyone in the US with just their email address. You could either do so with a regular ol' email app -- simply CC cash@square.com in an email to the recipient with the dollar amount in the subject line -- or you could download the Square Cash app to make the process easier. With the latest Cash app update, however, there's a special bonus feature if you decide to use the app to send money -- you'll be able to send money with their phone number as well.

Just enter in the number manually or you can let the app access your contacts list. If the recipient is new to Square, they'll get a text message with a link to a secure website where they can enter in their debit card number, after which the money will be transferred in just one or two business days. We should note that the recipient doesn't need the app to get the money, and that it's completely free to send and receive.