Dec 4, 2009
Are we square?
Simply, Square is a company that will let you make credit or debit card transactions from a smartphone. Square is a new company who has a founder from another interesting company, twitter.
Credit and debit card transactions take all kinds of devices physical and technical including merchant accounts that cost you a bundle each month whether you make a transaction or not. This is difficult for small businesses, sole proprietors, craftspeople, and artists.
The story is that “In February 2009, Jim McKelvey wasn’t able to sell a piece of his glass art because he couldn’t accept a credit card as payment” and the next day Square was born.
The whole process seems terribly slow for a small transaction but the advantages of marketing offers to frequent customers, an identity verification system, text and e-mail receipts, and transactions to the cloud make it a player in this service space.
I know that I’m ready to try it out.
video from TechCrunch:
thoughts from