toggle

AAPL Stock: 107.72 ( -5.04 )

Printed from http://www.macnn.com

Square starts taking mobile payments

updated 12:50 pm EDT, Tue October 26, 2010

Square's iOS mobile payments go live

After a long run-up and a last minute design adjustment, Square has begun taking payments. The combination of apps for the iPad and iPhone (free, App Store) or Android gives stores and individuals a way of taking credit card payments on the spot without to use a relatively expensive credit card processing machine or service. Square's system takes a 2.75 percent cut of the sale price along with a separate 15 cent fee.

The platform is also designed to bring the advantages of Internet access and mobile apps into paying for items. Buyers can leave notes and have their visit frequency tracked for get-one-free deals and similar offers. Conscience-focused stores can also donate parts of their payments to charities.

The app should work with the iPad, all iPhones and second-generation or later iPod touch players. Android releases are also relatively focused and include HTC's Desire, Droid Incredible, Evo 4G, Hero and Nexus One along with the LG Ally, Motorola's Droid and Droid X as well as the Samsung Galaxy S and Intercept. Google-based devices need Android 2.x or later.




by MacNN Staff

toggle

Comments

  1. sfmitch

    Joined: Dec 1969

    +2

    comment title

    Huh? Square has been taking payments for awhile now.

    I first used Square in May.

  1. nowayoutofmymind

    Joined: Dec 1969

    -2

    2.75 percent

    this is shameless...

  1. facebook_Dave

    Via Facebook

    Joined: Oct 2010

    +2

    no shame in the profit game

    If 2.75 percent is too rich for your blood, I highly recommend not using their services.
    As for me and most business folks, that percent is totally worth it - I only pay $2.75 for every $100 that comes my way? Great!

  1. WaltFrench

    Joined: Dec 1969

    +2

    “Shameless” == “Business Opportunity!!!”

    There must be some fee less than 2.75% that YOU think would be a good business for a firm like Square. I imagine YOU could therefore come up with a service/device combo that would be (a) just as good, but (b) cheaper, leading you to huge profit opportunities.

    And if not you, some of your well-heeled, smart programming+business friends. Go ahead! Cover the costs of running a bank — the bad charges, the claimed and actual errors, the customer service, the hardware, the ... oh, the actual work you're supposed to do — for only a 1% fee and 5¢. The world will beat a path to your doorstep, assuming you can actually stay in business with your bargain pricing.

    Personally, the only “shameless” thing I see is how willing Square is to throw away preconceptions about providing banking services. To my eyes, this is an incredibly better arrangement for thousands of small businesses, piano teachers, etc., than they would find anywhere else.

    And every one of them has the opportunity to choose anybody else if Square doesn't deliver a good deal.

  1. chas_m

    Joined:

    +1

    This will revolutionize

    prostitution.

  1. snapper02

    Joined: Dec 1969

    -2

    America

    Only in America. Sorry world.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

toggle

Most Commented