Square's Jack Dorsey hints at possible direct Apple tie-in
updated 02:25 pm EDT, Sat May 21, 2011
Square founder hints at Apple deal
Square head and Twitter co-founder Jack Dorsey dropped a possible clue as to a deal with Apple through a cryptic Twitter update mid-Saturday. Saying just "Apple @Square," he linked to an Instagram photo of a plate of cut apples in the shape of the Square logo. Dorsey mostly makes work-related posts and isn't likely to have posted it solely for entertainment.
The mention comes just two days before a rare special event for Square and after a series of connections to Apple. Square payment readers were highlighted in Apple's iPad "year one" video and are now hired a former Apple developer earlier this month.
A deal isn't likely to include a takeover from Apple, which virtually never conducts special events for acquisitions. If connected to Apple at all, the May 23 event could see tighter connections between iOS and Square. Alternately, it could be part of the rumored Apple Store 2.0 revamp and see Apple staff take purchases through Square readers instead of their custom systems.
Dorsey hasn't followed up with any clarifications.
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Everyone has a square now
Your iTunes store account IS your Square account. You can accept payments after buying the $20 square adaptor at any Apple Store, and you no longer need a Square account, just sign in with your iTunes ID. Fund are added to your iTunes Store Balance and can be used for paying other Square users without swiping a card, but just letting them plugin your Square. If you need the cash you can transfer it to a checking account in 1-3 days. This requires a new Square reader though that is encrypted and contains an ID chip. The system has been is testing for several months and is a roaring success. Square 2.0, the new and better payment system. Goodbye PayPal.