the Square...Is it the cash killer?

[Brian R]

Not quite...but it's a start.

I received my Square yesterday for taking credit cards....they made it way too easy.

I will really only use it for the face to face stuff until they upgrade some of the options.


Anyway, it got me thinking again about how long it will be until we ALL carry around smartphone like devices that store our "money" instead of carrying cash.

I would be like accepting credit cards except the money would transfer instantly and you would have it in your phone NOT necessarily in your bank account. Of course you could probably transfer the money to your account or have it linked somehow.

It's only a matter of time and I think the square is one step closer. The next smartphones will have a "built in" card swiper or you will just be able to use your scanner to do it.

Really cool concept...I'm sure they already have it but haven't made it public yet.

How cool would it be to NOT carry cash or coins...some old school might think different...but think of it as a way of cutting out un needed use of resources.
Wouldn't have to make the money, store the money, burn the old money etc etc.

The only downside is...like any techy stuff...it would probably take away a few jobs....but it might create some as well.

Thoughts?

 

[carpetdan]

I really like cash.... it smells good and feels good... I collect it

 

[Lee Stockwell]

The next generation won't require swiping a card.

 

[XTREME1]

a grocery store around here is allowing you to scan your items and pay for your items through a smartphone

A guy I was golfing with last nights smartphone gave distance to the pin and my blackberry gave me the time

 

[Brian R]

Yeah as it stands now you can just scan certain cards without swiping.

Technology will catch up but I'm sure they won't give us the best crap until the inbetween crap gets sold...they got to make the moneys. lol

 

[gavin]

I do arcade games on the side, so I still collect quarters.
Pennies cost more to make then they are worth, and I fear the dollar might be there soon too.

I like square up, it does make accepting cards soooo easy.

 

[thecleaningdude]

I have a merchant now, but this seems better.

However, I don't want to sign up for another merchant account. Do I need one in order to use Square Up? I get conflicting info.

 

[Brian R]

I have a merchant now, but this seems better.

However, I don't want to sign up for another merchant account. Do I need one in order to use Square Up? I get conflicting info.

You have to sign up with square and verify your bank account with them. That's all you need.

No monthly fees.

Only issue I've heard is possibly if you make too much money. They might make you wait a little longer to get it.
Speak with them about that because I really don't know.

 

[GCP]

client's love that you're able to accommodate to them by accepting all forms of payment: cash, check and cc. makes it that much more convenient for them.

 

[rcl1006]

are they still giving them away if you tweet square up? or was that bs

 

[Royal Man]

How much of a percentage do they take?

 

[Brian R]

The little square, the set up are free...no monthly payment.

They take 2.75% per transaction swiped.....a little more if you type it in.

It's been working great for me.

 

[Doug Cox]

I use Go Payment and so far it has worked out better than square. I haven't gotten Square to scan with anyone elses card but my own, and haven't figured out the manual method yet. I have 2 options to use in any situation.

 

[Terry]

Re: the Square...Is it the cash killer? look who's on their

They have some heavy hitters on board - Square appoints Laurence Summers to its board
By Boston Globe Staff

Lawrence Summers, a former president of Harvard University and former Secretary of the Treasury who is now a Harvard professor, has been appointed to the board of directors of Square, San Francisco-based Square said today.

Square offers a free credit card reader that enables mobile device users to pay for everyday transactions.

In a statement, Square chief executive Jack Dorsey said of Summers. “Square is at a key point in our trajectory, and we know Larry will contribute tremendous wisdom and expertise toward our continued success.”

Dorsey is also a cofounder of Twitter, a social network.

Summers’ office at Harvard confirmed the appointment. (Summers is shown in a file photo above taken by Qilai Shen of Bloomberg News.)

Square also recently announced the addition of Vinod Khosla to its board. Khosla is a cofounder of Sun Microsystems and founder of the venture capital fund Khosla Ventures.

 

[Royal Man]

I just got my Square in the mail today.

 

[brianeboatman]

I have one too. People appreciate the option and for someone like me...a small business owner, it makes you look legit. I think the costs are affordable too. I like to ask the customer how they are going to pay before the estimate. If they say they are payingnwith a credit card, I just add about five bucks to the estimate to cover the card cost.