Monday, May 23, 2011

Square Adds Digital Wallet Features, Pay by Name

square card caseUp to this point, Square arguably has gotten the most traction from smaller and non-traditional retailers who need the ability to accept credit and debit card payments where they are, without investing in the full retail point of sale infrastructure, using just the Square appliance and an iPhone. But Square also is developing ways for retailers to use an iPad as a functional equivalent of a POS terminal, in addition to iPhones.

The new wrinkle is that the iPad software also allows businesses to update their inventory, add specials, and track customer behavior, moving into the analytics function. Square also is offering a sort of peer-to-peer service that allows retailers to accept payments from customers who already have received credit card information on file.

The new "Card Case" app allows users to see nearby businesses, read menus, store electronic copies of all your receipts and pay by giving the retailer just a name. The merchant then can access credit card information the customer already has provided to the merchant.

1 comment:

Atlanta Roofing said...

This is fantastic news for small coffeeshops etc everywhere.. This makes for a very compelling use case. It is now far cheaper than a merchant account or verifone for smaller merchants, especially when you factor in that you get a free POS. FeeFighters made a slick calculator helping determine what makes sense for a particular business (usually Square).

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