Square Is Now Ringing Up Payments
Oct 25, 2010, 7:11 PM by Philip Berne
Square, the mobile service that lets smartphone users accept credit card payments with their devices, is finally active. The service relies on a piece of hardware that users plug into the standard headphone port on their phones. An app then lets users collect payments via credit card, charging users 2.75% of the transaction cost, plus a $0.15 fee. CEO Jack Dorsey, who previously helped found Twitter, told CNN that he believes this cost is in line with what retail stores pay for a similar service. The app and accompanying accessory work on Android and iOS devices.
Google Testing Hands Free Mobile Payments
Google today announced a new pilot program that will allow people to pay for goods and services without taking their phone out of their pocket. Hands Free Payments relies on location data, WiFi, Bluetooth beacons, and other sensors to detect nearby participating stores.
Android Pay and PayPal Now Play Nice
Google's Android Pay service is now compatible with PayPal. The companies today announced that Android Pay users can opt to use their PayPal account as a source of funds when making tap-and-go payments at retail stores or on the web.
Square Makes Payments Simpler with $Cashtag
Square today announced $Cashtag, a new way to make payments online or from mobile phones. The $Cashtag service is based on Square Cash and makes it easier for people or businesses to accept online payments rather than checks.
Capital One Adds NFC-Based Payments to Android App
Capital One today added tap-and-go mobile payment powers to its Android application, independent of services such as Android Pay or Samsung Pay. Capital One cardholders can add their debit card or credit card to the Capital One Android mobile app and make secure payments anywhere contactless payments are accepted.
Square scares me...
I have already had my credit card stolen twice by waiters-- one who was copying down all corporate Amex cards he handled, another who rang up $500 in convenience store charges on my personal card before I was able to cancel it. Only the former was caught, because his manager caught on to what he was doing.
Square is a good idea, poorly executed.
... I am assuming that it is just a matter of time before someone reverse engineers the interface used by the Square scanner and writes an app for your local waitress or cashier to steal credit card information.
Another blow to banking