This is pretty big news. Square (whom I’ve mentioned before) has partnered with Starbucks to bring mobile payments to every Starbucks in the United States.
Square has been leading the way for small businesses and individuals to accept credit card payments without all the hassle. But they’ve been fighting another war as well; payments using geolocation and your face rather than processing a credit card. Making it easier, quicker, and actually safer to pay – all while making it more convenient for both the consumer and business alike.
There was a problem, though. In order for this to be useful it has to be accepted just about everywhere. In order to disrupt the credit card market it will have to be in as many places as credit card machines. This partnership with Starbucks is about to bring Square to millions and millions of people a day. A huge win for Square and for fans of Square.
I really am looking forward to one day being able to pay for just about anything using only my phone. I hope it happens.
Beth Callaghan of All Things D asks Twitter inventor and Square Co-Founder Jack Dorsey twenty rapid-fire questions and some of his answers are pretty great. The best answer?
Name your favorite guilty pleasure.
I respect Jack quite a bit but this puts it over the top for me.
Square is rethinking the card case model and going more for an application that allows you to pay at Square-enabled merchants just by having your phone in your pocket. They call it Pay with Square.
I love the idea. And, as I’ve said before, I really, really want these types of systems to take off and to be able to get rid of the credit card as quickly as possible.
However, the video for this new app first shows off the ability to tell your friend that you’re going to an ice cream shop. I’m not so sure that should have been highlighted first and foremost. I think it is fine they have that part of the system but I’d much rather show how quickly and easily it can be to get in and get out without dealing with cash or cards.
/via The Verge.
This is the sort of propaganda the world could live without.
Verifone’s CEO, Douglas G. Bergeron, wrote an “open letter” about Square being a potential security risk to card holders because Square could be used to “skim” information from a credit card. Well, one thing he omitted (probably because he’s a bit biased) is that a pencil could be used to do the very same thing.
How many people have you handed your credit card to who has gone away from your line of sight and returned later with your receipt? If restaurants used Square they wouldn’t need to leave your line of sight. In a way, Square is safer than a pencil.
Square’s CEO, Jack Dorsey, replied. But, as these smear campaigns generally go, I’m sure much of the damage is irreversible. I certainly hope people are smart enough to know that when one company calls out their competition, for any reason, that they should look into the issue themselves and draw their own conclusions.