Printed from http://www.electronista.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 Electronista Staff
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Comments

  1. sfmitch

    Fresh-Faced Recruit

    Joined: Mar 2008

    +2

    comment title

    Huh? Square has been taking payments for awhile now.

    I first used Square in May.

  1. nowayoutofmymind

    Fresh-Faced Recruit

    Joined: Jun 2007

    -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

    Fresh-Faced Recruit

    Joined: Jun 2003

    +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

    Moderator

    Joined: Aug 2001

    +1

    This will revolutionize

    prostitution.

  1. snapper02

    Fresh-Faced Recruit

    Joined: Jun 2009

    -2

    America

    Only in America. Sorry world.

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