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0 pointsthinkcomp14y ago0 comments

Square does not currently require a license, and they have not yet applied for one in California.

0 comments

Out of curiosity, where are you getting this info?

From a cursory look, I was under the impression that they would need a license in every state that they'd do business in.

It's all public information.

Square is exempt from the California Money Transmission Act per FC § 1805(d) (see http://www.leginfo.ca.gov/cgi-bin/displaycode?section=fin...), since it's actually JPMorgan Chase Bank, N.A. that is moving your money.

Square does not have a license.

And Square has no plans to get one as of last month.

dpark14y ago

Thanks!

Would it not be possible for them to partner in the same fashion to do direct debit?

j / k navigate · click thread line to collapse

dpark14y ago

Out of curiosity, where are you getting this info?

From a cursory look, I was under the impression that they would need a license in every state that they'd do business in.

It's all public information.

Square does not have a license.

And Square has no plans to get one as of last month.

dpark14y ago

Thanks!

Would it not be possible for them to partner in the same fashion to do direct debit?

j / k navigate · click thread line to collapse