2. Created by Jack Dorsey No need for cash Great for small businesses No special bank account required Paper isn’t needed Things become easier to sell
3. Background of Square “Square is the child of two trends, one technological and the other social: the proliferation of networked mobile computing devices and the decline of cash in favor of payment cards.” -Jason Pontin, Technology Review
4. Background of Square Engineered in 2009 by Jack Dorsey and Jim McKelvey. After official launch in October 2010: 100,000 activated accounts from October-December 65,000 activated accounts in January Goal: To process $1 billion transactions in 2011 (currently processing $2-10 million per weeks)
12. How do you Use Square Up? The actual square device is free, but there is a 2.75% fee for swiped transactions and a3.5% + 15¢ for keyed-in transactions. After swiping a credit card, users will have to sign using the touch screen on the mobile phone. Users can chose whether to enter an email address after they have made a purchase to receive an electronic receipt instantly to their email. Square does not collect or share any card holders information to ensure customers privacy.
13. How do you Use Square Up? Square accepts all major credit cards -Visa, MasterCard -American Express -Discover There is no limit to the amount of money that can be accepted on Square. Square is only available in the United States, as of right now. Here’s a video about Square and it’s potential for small businesses: SquareUp
14. Case Study Original squares were unsatisfactory to users Took multiple swipes $100 cap to help prevent fraud Weren’t dependable Since then, Square has improved issues by Larger card reader Removed cap Improved apps ability to process the signal
