The Balance Move By Square Cash Could Move Square To Full Financial Services Status

When P2P app Square Cash announced a move to support cash balances a few days ago, it seemed a minor enough new capability. But as is true for so many things about Square, the fear is not what payment facilitator extraordinaire Square is today, but what Square will morph into tomorrow.

"There's not a major impact over the short term, but a very significant potential impact over the long term," said Rick Oglesby, senior analyst for Double Diamond Group. First, let's briefly look at what Square Cash added.