Take-home case interview submission for a Series A Fintech Startup Product Lead role (job offered, I declined): PRD for Square Debit Cards.
Table of Contents:
Square's Sellers love how easy it is to collect money with our POS system, but spending money is a headache. On average it takes 4 days for funds to land in Seller's bank accounts, which often results in a negative cash cycle.
Square's new Debit Card sets out to make managing cash flows a little bit easier by giving Sellers access to funds the moment customers pay them.
Thousands of SMBs still rely on personal cards, and don't use business banking services given mandatory account minimums, personal guarantees, fees, etc. Since Square Debit Card relies on funds already in Seller's Square account, the card is free to use, requires no credit check, no lengthy application, has no minimums.
Square Sellers can sign up and activate a virtual debit card in minutes, and have a physical card shipped in 2 business days.
Spend from Square Debit Cards will appear in the unified Dashboard against Sales, and can be exported in a suitable file format for the top Accounting Partners.