Peer-to-peer mobile payments is gaining more players. Last week, Google announced the ability to send funds to anyone using Gmail and a Google Wallet account.

Now it looks like Square is getting into the game. 

Drew Olanoff from TechCrunch first reported that a dedicated page touting the invitation-only program had appeared on the Square website. Though the Square website provides little information on when Square Cash will launch, it does provide some details on how it will work.

The basics are simple enough. A Square Cash user sends an email to a recipient with a dollar amount in the subject line and cc's "[email protected]." A receipt email confirming the transaction is emailed back to the sender (with the option to cancel the transaction as long as the recipient hasn't claimed it yet). Presumably, the funds are debited from whatever bank account is attached to the sender's Square account.

The money can be sent to anyone, even a non-Square user, though a recipient will probably have to sign up for a Square account to all the deposit of funds into their bank account. (Like Square's giftcard program, Square Cash is not just a handy way to send funds, it's also a way for Square to expand its customer base.)

The cost of each transaction is $.50 to send funds; there is no charge for funds received.

Mobile Payments Today has sent Square a request to join the Square Cash program. More information as it becomes available.

Read more about money transfer/P2P programs.