The Latest Greatest Smartphone Gadget — SQUARE
From the great mind of @Jack, Twitter Founder, comes the next level in transaction payment devices
Must say I find this very intriguing while having some concerns as well.
First it is an incredible revolution for ease in doing business/sales, collecting debts, but not quite RE Transactions
Second, I would need to be confident it is at least as secure as the tried and true as the credit cards, which they seem to be claiming they are going to be improving on
It is already in Beta Testing in some areas, but is anticipated to be rolled out to everyone in early 2010. They plan on giving away the Dongle (credit card reader) for free. It will plug into your Smartphones headset plug. They may charge $1 for the merchant software to do the transaction, which includes another out-of-the-box idea – customer rewards built in. We are talking about no more stampable customer reward cards. It keeps track of your 10 coffees and will give you the 11th free.
Another surprise was:
“Alyssa Milano, set to appear in the ABC comedy series Romantically Challenged next year, joined the Square team as an adviser.
“We added Alyssa to our board of advisers because she has direct and relevant experience in contracts, promotion, distribution, manufacturing, licensing issues, retail, philanthropy, and a deep insight into present and future technologies and social movements around them,” said Dorsey in a statement distributed by Milano’s publicist. “Alyssa brings a clarifying presence to everything we do.”
Milano’s qualifying experience for advising Square, according to the announcement, includes her presidency of the web design firms Celebrity Loop and InterSports, her Touch clothing and jewelery line specializing in creating junior women’s sizes of athletic jerseys, and philanthropic work including with UNICEF and The Global Network for Neglected Tropical Disease Control. (Square donates one cent of each transaction to the charity of the buyer’s choice.)”
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