Payments startup Square Inc. has launched a debit card that gives sellers instant access to received funds as the Jack Dorsey-led company continues a move into banking services.

The Square Card is being pitched as a way for sellers using Square payments services to improve cash flow by having instant access to funds.

Previously, a Square seller would receive a payment, then have to transfer those funds to a bank account to access them, often resulting in a delay. The card removes the need to transfer funds to access them.

“By eliminating the time between making a sale and having funds available, you can quickly put your money to work,” Square said in a blog post. “And as your business grows, this kind of speed is essential, as you often need to put money to use right away. With Square Card, you can do it free.”

The debit card works on the Mastercard network, meaning that it can be used in ATMs or at point-of-sale terminals that accept Mastercard.

Along with the card, Square has also rolled out new features to go with it, including a balance spending and activity section in the Square Dashboard. Square users are also now able to split up business and personal expenses to improve cash flow management.

In a nice touch, those using the card will also receive a 2.75 percent discount on all purchases made from other Square sellers.

This isn’t the first time Square has offered a debit card. CNBC noted that the company has previously offered a Visa card to users of its Cash app, but this is the first time a card has been available to all users.

That does have another benefit for Square. Instead of customers transferring money out, they will be more likely to keep balances with Square, meaning that Square will earn interest on retained balances.

All existing and new Square sellers have access to the new Square Card starting today.

Image: Square