updated 04:45 pm EST, Mon January 30, 2012
Obama campaign takes on Square for donations
The Obama campaign has began using the wallet-free and wireless payment technology from Square for its fundraising purposes. Readers are being given to staff who work on the campaign, who can then use their Android smartphones, iPhones, and iPads to collect donations. This should make the process more streamlined, as the alternative involves filling out a form and writing a check or giving out credit card information or cash to the fundraiser.
Campaign supporters will get an instant electronic receipt in the form of a text or e-mail. Paperwork still needs to be filled out, however, as under the rules for political campaign contributions.
Square charges the same 2.75 percent per transaction as it does usually. This move could prove quite profitable for the outfit, then, as the Obama campaign raised $42 million in the fourth quarter of 2011. [via TechCrunch]