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Square card reader: Now anyone in the US can accept credit cards
Headline updated to acknowledge that Square is a US-only service for now. Remember the Square card reader and payment service from our first hands-on video in January at Macworld Expo 2010? Square makes it possible for anyone, whether an individual or small business, to take payments via credit card. Shortly after Macworld Expo, I signed up for the service; I finally received my free credit card reader yesterday. The reader is a tiny square box that plugs into the audio port on iOS devices or other smartphones. Rather than using an expensive (usually $75 or more) "sled" reader like those used in Apple's retail stores, Square developed a reader that did not use the dock connector or need the blessing of Apple's "Made For iPhone" certification. These readers have no moving parts and are so inexpensive to manufacture that Square can give them away. Anyone can sign up for the service and get a free reader. If you want to be able to split a bar tab with friends and have them pay you via credit card, you can get a Square account and reader, and then simply swipe your friends cards to get paid. Square takes 2.75% of the transaction + 15¢ per swipe if you can get your drunk friends to provide their finger-written signatures, and 3.5% + 15¢ if they don't sign. Does that sound like a lot? To an individual, it might, but to small businesses who are used to hefty sign-up fees, monthly account minimums, merchant account fees, and higher percentages, Square is a hell of a deal. %Gallery-106879%
Square mobile payment system goes live on iPhone, iPad, and Android this week (video)
We've been intrigued by the Square Payment System since it first ditched its Squirrel costume back in 2009, and now it appears we're on the eve (or eve of the eve, or pretty close anyway) to its release for not only the iPhone, but for the iPad and for Android as well. The software is said to be hitting App Stores and Markets this week, working with a sugar cube-sized card reader that pops into the 3.5mm headphone jack, a device that the company is giving away for free to those who sign up. Using it will not be free, with retailers paying fees starting at 2.75 percent plus a 15 cent surcharge, but that's considerably cheaper than many other options out there (which often require costly hardware to boot). There's another new video after the break, and we can't wait for these things to start showing up at the farmer's market. No more early morning ATM runs! Update: Apps for the iPhone, iPad, and Android devices are now live in their respective download abodes. None will require that you enter a single digit of your credit card. [Thanks, Ed]
Square used for fundraiser payments at SxSW
Square is a very cool piece of hardware for the iPhone and other smartphones; when combined with the Square service, you can accept credit card payments right on your iPhone. TechCrunch reports that charity:water used Square at SxSW to collect donations, and other uses are already cropping up; flower carts and political fundraisers, for instance. If you haven't seen it in action, check out our in-person walkthrough from Macworld Expo, or the official YouTube video demonstration. The demo features Adam Lisagor (creator of Birdhouse for iPhone and part of my favorite podcast You Look Nice Today) and Jason Permenter, who walk through a very simple real-life scenario: what do you do if you want to sell something, like a couch, to someone who wants to pay with a credit card? Square not only makes it possible to do that, but it adds some cool features such as showing a picture of the buyer and seller on the iPhone to verify their identity. Square was born after Jim McKelvey couldn't sell a piece of art because he couldn't accept a credit card, a process that has traditionally been complicated and expensive. Part of Square's vision has included charitable giving, where a donation of 1¢ is made from every transaction to a cause of your choice. When I was growing up, using a credit card meant that the clerk had to reach under the counter, pull out a device where you would carefully line up the credit card, then put special receipt paper on it, including two carbon copies (remember carbon paper?), they would push the handle across the device and it would push the numbers on the card into the carbon paper, then they would hand it to you to sign, and then the clerk would take it back, pull out one of the carbon copies, and hand it to you. If you were standing in line behind someone paying with a credit card, you'd react much the same way people do these days if someone pays with a check. Nowadays those PIN-pad credit card readers are in all the major stores and at gas stations. Being able to accept credit cards is almost a necessity in today's world. Square could give individuals and small businesses the same opportunity, using a device that millions of people are already carrying around in their pockets. Check it out; even if you aren't a seller, you may want to sign up for Square to be registered as a buyer once it's out of private beta.
Square iPhone payment system gets itself a website, showcased in public
Twitter co-founder Jack Dorsey and the quiet startup formerly known as Squirrel are finally opening up a bit. The company now called Square, as we noted back in October, has launched a website for its iPhone payment dongle, although it's still in somewhat private beta testing. TechCrunch managed to catch up with Dorsey, who gave a brief overview of the product and then showed it off by charging $4 for a cup of coffee -- so it goes in San Francisco. See Square in action after the break.
Twitter founder Jack Dorsey's Squirrel project revealed... as the Square iPhone Payment System
tweetmeme_url = 'http://www.engadget.com/2009/10/17/twitter-founder-jack-dorseys-squirrel-project-revealed-as-th/'; tweetmeme_source = 'engadget'; Remember the Square iPhone Payment System we told you about back in August? If you'll recall, the device -- which involves an iPhone app and associated dongle -- enables an iPhone or iPod touch to become a kind of mini credit card reader, allowing payments to be taken on the spot, no matter where you are or how big (or small) the transaction may be. When we'd first reported the device, word on the street was that it was only being alpha tested around New York City, and there wasn't much else to say. Now, we may have a little more insight on just where this device is headed, and who's behind the project. Jack Dorsey, the man who all but built Twitter in a matter of two weeks, has been working on a half-secret start-up project since around May. His new venture -- dubbed, funnily enough, Squirrel -- is based around the concept of using the iPhone as... yep, a portable, personal cash register; essentially the exact device which Square has created. And that's no accident. In the images we ran of the Square system, you can see a domain name on a receipt: squareup.com. Squareup.com is the domain of the Square System (obviously), and a casual investigation into the site's WHOIS profile reveals registrant info that points to an office in San Francisco, and a contact email address which reads... billing@paybysquirrel.com. Square, squirrel, square... are you getting it? So the cat, er, squirrel appears to be out of the bag. Now the question is whether or not Dorsey and co. can turn this fairly obscure piece of tech into the kind of firestorm which Twitter has become -- and who knows, maybe there'll even be a business model this time. [Thanks, Little Birdie]
