Redefining mobile money and credit card transactions. ‘Square
‘ clicks into your smart phone and you’re transacting with plastic in a swipe within 3 minutes.
We like the word ‘enable’ on Ideas Spotter. So here’s another great case to go along with that theme. Square. Square enables anyone with an iPhone, iPod touch or iPad to accept payment from credit and debit cards.
Within three minutes of clicking in the device and loading up the accompanying software, Square turns any individual into ‘we accept VISA’ or Mastercard, or…
Square is a tiny, well, square hardware that clicks into your smart device, currently available on Apple and Android platforms it is entirely free of charges. Including free uploads of the software, and even the hardware itself.
Where they most likely are pooling their profits is in their 30 day USD1000 limits, where they are most likely drawing interest on whatever you’re bringing in.
A particularly interesting situation they muse upon is “you can even hace your friend that owes you $20 pay you with their card”. Imagine bringing the ease of plastic to what is usually such a traditionally hard cash exchange. Square makes it very much exist.
Imagine the possibilities for an individual, the ease of setting up a profit-turning business is set in motion. Where a simple errand could warrant an easy transaction. No contracts, monthly fees or merchant accounts.
Co-founded by Jim McKelvey and Jack Dorsey in 2009, Square has a base out of tech-startup haven San Francisco, with offices in Saint Louis and New York.