Newsletters
Customer Relationship Management News NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
Home CRM Systems Customer Service Business Intelligence Sales & Marketing More Topics...
Barium Ferrite (BaFe):
Higher Capacity, Superior
Performance, Longer Archival Life

www.thefutureoftape.com
Digital Life
24/7/365 Network Uptime!
Average Rating:
Rate this article:  
Square
Square's Thin, New Credit Card Reader Better for Phones

By Barry Levine
December 9, 2013 1:34PM

Bookmark and Share
The credit card reader, available for Android or iOS 7 devices, is offered by Square for free to anyone signing up for a new account. It is being launched initially in 800 Canadian retail stores, and the 30,000 retail stores in the U.S. utilizing the Square reader are expected to upgrade. The unit is also available through Square's Web site.
 


Square, a mobile payment company founded by Twitter co-founder Jack Dorsey, is out with a new credit card reader. The device, designed for use with a smartphone, is slimmer and has more capabilities than earlier models.

The new unit is 45 percent thinner than its predecessor, and the company said it was the thinnest such reader on the market. Jesse Dorogusker, who heads up hardware development at Square, said in a statement that the new unit provides "purpose-built components to create both excellent performance and beautiful design, without compromise."

The new reader offers a custom magnetic read head and spring, which Square said is more accurate than competing readers, and the custom electronics are embedded in a single chip. No battery is needed, as the reader is powered by the smartphone that it plugs into.

30,000 U.S. Stores

Square offers the reader, which is available for Android or iOS 7 devices, for free to anyone signing up for a new account. It is being launched initially in 800 Canadian retail stores, and the 30,000 retail stores in the U.S. utilizing the Square reader are expected to upgrade. The unit is also available through the company's Web site. The company, which makes its money by the fees charged on transactions, reportedly will reach sales of nearly $1 billion by next year.

Last week, Square announced its purchase of a company called Viewfinder that makes a mobile photo-sharing application. The app enables users to share photos and chat within the app, as well as search for previously captured photos.

In October, the company rolled out a new online payments service called Square Cash. The service is free and requires no sign-up. To use, a person writes an e-mail, sends a copy to Square's e-mail address, and specifies the dollar amount in the subject line. The message body can be left blank or can include a message.

No Guns

Once the e-mail is sent, Square will reply to the sender, asking for permission to link their debit card to the payment, which they can do by simply replying with their debit card number once. Square verifies that the debit card account exists and sufficient cash is present, before sending an e-mail to the recipient. The company says it does not track the total funds in the account.

The recipient of the funds receives an e-mailed link from Square and is asked to reply with his or her debit card number to receive the funds, also just once. There is no intermediate stored balance account, and the transaction takes a day or two, although Square says sometimes the funds show up right away. The sender and recipient are both now authorized to send or receive funds, in either direction.

In May, the company changed its terms of service to ban the sale of firearms, ammunition or "weapons or other devices designed to cause physical injury" through its reader. A company spokesperson said the company revisits its policies on occasion to "ensure they are consistent with our values and in the best interest of our customers."
 

Tell Us What You Think
Comment:

Name:

TheBuddyLama:

Posted: 2013-12-10 @ 7:11am PT
PhoneSwipe is a better solution with lower transaction fees and no firearm phobia. Guns & ammunition don't kill, PEOPLE do -- with baseball bats, hammers & knives far more often than with guns. Square's owners are idiots.



Your Next Generation Data Center Is Here! Vblock™ Systems: the world's most advanced converged infrastructure are built on the Cisco Unified Computing System with Intel® Xeon® processors. Vblock™ Systems deliver extraordinary time to market, ROI and TCO, and flexibility to meet your continually changing demands with 5X faster deployment, 96% less downtime, and 1/2 the cost. Click here to learn more.


 Digital Life
1.   Yahoo COO Gets $58M Parting Gift
2.   Teen Arrested for Heartbleed Hack
3.   Malware Targets Facebook Users
4.   Mt. Gox Is Headed for Liquidation
5.   Amazon 3D Smartphone Pics Leaked


advertisement
BlackBerry Drops T-Mobile After Spat
Moving on to other carriers after snub.
Average Rating:
Yahoo COO Gets $58M Parting Gift
What was the company thinking?
Average Rating:
Teen Arrested for Heartbleed Hack
Data stolen from Canadian tax agency.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Google's Street View Software Unravels CAPTCHAs
The latest software Google uses for its Street View cars to read street numbers in images for Google Maps works so well that it also solves CAPTCHAs, those puzzles designed to defeat bots.
 
Canadian Teen Arrested for Heartbleed Hack
One week after the OpenSSL Heartbleed vulnerability was unveiled, Canadian authorities have made the first arrest -- a London, Ontario teenager -- connected to exploiting the security hole.
 
IBM Offers Security, Disaster Recovery as SoftLayer Service
New disaster recovery and security services for SoftLayer clients are being added by IBM. Big Blue said the new capabilities will speed cloud adoption by alleviating concern over business continuity.
 

Enterprise Hardware Spotlight
Vaio Fit 11A Battery Danger Forces Recall by Sony
Using a Sony Vaio Fit 11A laptop? It's time to send it back to Sony. In fact, Sony is encouraging people to stop using the laptop after several reports of its Panasonic battery overheating.
 
Continued Drop in Global PC Shipments Slows
Worldwide shipments of PCs fell during the first three months of the year, but the global slump in PC demand may be easing, with a considerable slowdown from last year's drops.
 
Google Glass Finds a Home in Medical Education, Practice
Google Glass may find its first markets in verticals in which hands-free access to data is a boon. Medicine is among the most prominent of those, as seen in a number of Glass experiments under way.
 

Mobile Technology Spotlight
Google Releases Chrome Remote Desktop App for Android
You're out on a sales call, and use your Android mobile device to grab a file you have back at the office on your desktop. That's a bit easier now with Google's Chrome Remote Desktop app for Android.
 
Amazon 3D Smartphone Pics Leaked
E-commerce giant Amazon is reportedly set to launch a smartphone after years of development. Photos of the phone, which may feature a unique 3D interface, were leaked by tech pub BGR.
 
Zebra Tech Buys Motorola Enterprise for $3.45B
Weeks after Lenovo bought Motorola Mobility’s assets from Google for $2.91 billion, Zebra Technologies is throwing down $3.45 billion for Motorola’s Enterprise business in an all-cash deal.
 

Navigation
CRM Daily
Home/Top News | CRM Systems | Customer Service | Business Intelligence | Sales & Marketing | Contact Centers | Customer Data | CRM Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.