Mobile Payment Startup Square Gets Apple Nod

[Phillip Swanson]

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?

[john2oo4]

This is a great deal. I'm working on starting a photo & design business and this would make a perfect addition for me. Apple store here I come.

[redzombi2k]

just got mine in the mail a couple of weeks ago, pretty cool.

[Razz]

Got mine yesterday. Its like a mobile point of sale. This thing rocks. I do a lot of consulting and this is a great option for those slow-to-pay clients.

[Chris3k2]

I do plan on starting a small business in the future. This looks like a great way to stay on top of getting paid no matter where you are... and best part the product is basically free for right now! LOL I wonder how much more that guy that was making 50,000 jailbreaking would have got with this.

[Razz]

This is a great deal. I'm working on starting a photo & design business and this would make a perfect addition for me. Apple store here I come.

Don't bother ordering from the apple store. Just download the free app, go through the sign-up process, and at the end they will ship you the device free of charge.

[emtee25]

Can't get it over here in the uk as would be very good for my business :-(

[Vitiell0]

We use square in many of our home based and mobile iPhone repair businesses. Works amazing!

[RessayFlex]

I signed up as soon as this thing was announced, took months to get mine, but that is because they working out all the issues. I got mine back in early October of last year, and absolutely love it. I had the original card reader, and when they came out with the better one they shipped me the new one without me even knowing there was a new one...

They have such an awesome business idea, im glad to see it taking off!

[Kyle Matthews]

Yup, I use this as well - the service works great. Even emails detailed receipts with location info to the customer when they make a purchase.

[steve-z17]

Mine is on it's way. This will come in handy for a side biz!

[Poseidon79]

This is awesome! Can i haz your credit cardz pleaze.

[coolguy742]

So I get one for free? I'm not really comprehending what he's saying... (I just had my brain run a marathon in AP-calc hahaha)

[coolguy742]

Don't bother ordering from the apple store. Just download the free app, go through the sign-up process, and at the end they will ship you the device free of charge.

What's the app called?

[one1]

Back in the day we had to use Equifax service and machines and they charged a huge fee. Startup price, machine rental, etc..... ridiculous terms. You had to be at a desk with a land line connected to this huge box and system. Then came paypal.......... now comes square.

[mikiecw]

We love square...the only complaint i have is the customer service. There is not a way to contact except via email (I want to talk to someone!!!) In addition you have a rolling week max of $1,000 in transactions, anything over that they keep for 30 days. I have been trying to get my limit increased, and it is a pain!!!!!!!!!!!!!

[ninthchamber99]

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.

[iphonerookie]

I use intuit's app and swiper(free). Its more durable and seems to look a LOT less like to snap off due to the shape of the swiper itself.

[ugshotgun]

The only thing new about this article is that Apple will be collecting 9.95 for something I've already gotten for free! Been having mine for about 2 months now :-) Haven't really used it much at all, but like one poster said above, no more..."dude, I don't have the cash on me!" LOL!

[Razz]

What's the app called?

Square

I use intuit's app and swiper(free). Its more durable and seems to look a LOT less like to snap off due to the shape of the swiper itself.

Its actually pretty durable. And it's not like I leave it in. I only plug it in to swipe a card. Then I pull it out.