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  • Mobile Payment Startup Square Gets Apple Nod


    Startup superstar Square struck oil earlier today. Square’s CEO and Twitter founder Jack Dorsey tweeted the credit card reader Square provides to work in conjunction with their mobile payment app (Square) will be available for purchase in all 225 Apple stores nation wide.

    The reader, which is available for free on Square’s website, will sell for $9.95 and come in both black and white. The $9.95 price seems to be more of a storefront Apple formality as Square is offering $10 rebates to those who visit their site with proof they purchased the reader from an Apple storefront.

    The Square reader and the accompanying iOS or Android app allows owners to collect mobile credit card payments. It is a simple swipe and sign process. Receipts can be mailed to both the merchant and customer. Sales tax can even be applied to the purchase. Fees for using the program are a reasonable 2.75% if the payment is made via a card swipe and 3.5% plus 15 cents if the card information has to be entered manually. The device has become incredibly popular among small business owners and freelance contractors (like myself).

    It’s incredibly encouraging to see such a useful and business friendly tool get the thumbs up from Apple. The fact square is providing a rebate for in store purchases is even more encouraging. In an economic climate that has creditors and banks becoming increasingly unpredictable with debit and credit fees, the stable nature of Squares fees is welcome. It makes bottom lines easier to predict and budget for at the beginning of the month.

    Added bonus, no one can ever give you the excuse “Sorry bro I’m out of cash. I’ll get you back later.”

    No. You’ll get me back now.

    Sources: Twitter, Apple, IntoMobile

    Do any Modmyi members use Square's mobile payment service? What are your thoughts?
    This article was originally published in forum thread: Mobile Payment Startup Square Gets Apple Nod started by Phillip Swanson View original post
    Comments 38 Comments
    1. teej1410's Avatar
      teej1410 -
      I already heard about this square thing about a year ago. I think it pretty sweet especially if your making a business but I don't plan on making a business anytime soon. Maybe if Apple implements a thing where you can just swipe your card to buy a song or app off of iTunes instead of entering in all that credit card info, I would buy it.
    1. Jahooba's Avatar
      Jahooba -
      I love the concept, but I don't think I'll ever have the pleasure of using one of these.

      It would be really cool if they had a little slot or strip on all cell phones that could read a card.

      Then transferring money from one checking account to another could be done in a simple swipe.
    1. fklentz's Avatar
      fklentz -
      Where I work there's a number of catering trucks that show up at lunch time. I saw one that had a line 10X longer than the others, the operator was taking payments via debit cards with her iPhone 4.
    1. Jahooba's Avatar
      Jahooba -
      Yeah, what's up with the shape of that swiper? It looks flimsy. Is the longer, more-durable-looking shape patented?
    1. rhekt's Avatar
      rhekt -
      Got my reader via Square in the mail two weeks ago. Its awesome love it
    1. g12007's Avatar
      g12007 -
      Guesss no jailbroken phones are welcome

      There user agreement ;

      5. Compatible Mobile Devices and Third Party Carrier Fees.
      Your Square Account permits you to accept payment card transactions on a compatible mobile device. Devices modified contrary to the manufacturer’s software or hardware guidelines, including but not limited to disabling hardware or software controls—sometimes referred to as “jailbreaking”—are not compatible mobile devices. You acknowledge that the use of a modified device to use the Service is expressly prohibited, constitutes a violation of the terms of this agreement, and is grounds for termination of your Square Account. Square does not warrant that the Service will be compatible with your mobile device.
    1. AngelTheDesigner's Avatar
      AngelTheDesigner -
      I use square and its amazing. I can visit my clients and have them pay me instantly and issue them a receipt right away. The app can use some features to it like products you enter to make some quick transactions. And invoicing all together like freshbooks does. And emails terms and privacy policy. With receipt. But other than that its a great tool for any business or freelance owners to use
    1. ruizojavy0824's Avatar
      ruizojavy0824 -
      Man, it is a great offer, sad they say they don't serve us here in Puerto Rico. A credit card transaction is a credit card transaction no matter were are you located. They are missing a huge business here on the island. Anyone know any other solution that can be used?
    1. digzz's Avatar
      digzz -
      When is this bloody thing coming to the UK ......We Need it here more then ever!!!!!!!!!!!!!!!!!
    1. ///Maybach's Avatar
      ///Maybach -
      Love square! I have had it since September and use it quite frequently. It is great for businesses who are on the go, or deliver items to customers.
    1. teddyf1's Avatar
      teddyf1 -
      Quote Originally Posted by ninthchamber99 View Post
      I dont even have a business but something like this makes me want to start one up!!

      Or pass this along to my friends that I know will use this.
      FYI, you don't need a business in order to use this. It works for personal use with personal checking/savings accounts also.
    1. bougiie09's Avatar
      bougiie09 -
      Yay i have one already
    1. 97vrsix's Avatar
      97vrsix -
      Use it, love it! Works great! No issues.


      Sent from my iPhone using ModMyi
    1. joneseyy21's Avatar
      joneseyy21 -
      Yes finally credit cards can now be used for drug sales!!!
    1. Darrius777's Avatar
      Darrius777 -
      So let's say I'm at work and I'm going on a food run. If everyone only has their credit card, can I use this to collect money from everyone?
    1. StealthBravo's Avatar
      StealthBravo -
      I bought 5 of these today. Cant wait to try them out next week
    1. bobsco's Avatar
      bobsco -
      I tried to get one but couldn't because it isn't available in Canada.
    1. thesmart1's Avatar
      thesmart1 -
      there's no more 15 cent charge....