Square is a mobile payment service launched in 2010 by Twitter co-founder Jack Dorsey that allows merchants to accept credit card payments through a free card reader dongle that plugs into smartphones. Merchants can process payments with the Square app by simply swiping a customer's card through the dongle, which then emails or texts receipts, charging 2.75% of the total per swiped transaction. However, Square may be subject to fraud and lacks encryption of cardholder data, making transactions vulnerable to skimming.

1. Square
Vanna McCarthy
Tara McKinney
Krystal Thorne

2. What is Square?
 Square is a mobile
payments service
 Launched in May 2010
 Started by one of the Co-
Founders of Twitter, Jack
Dorsey
 Enables merchants to take
credit card payments
anytime, anywhere

3. Who can use Square?
 Square is available for
iPhone, iPad, and Android
Anybody with a smart
phone can request a
reader for free-called a
Dongle
 Ships within 1-3 weeks

4. How to use Square?
 Simply, plug the dongle into
your headphone jack, launch
the app, and swipe the card
It is able to process the card
and email or SMS the receipt
directly to the customer
 Swiping costs 2.75% of the
total purchase and if you have
to type it in you pay 3.5% of
total purchase + $0.15

5. Disadvantages
 Subject to fraud
 Lack of confidential cardholder data encryption
 Vulnerable to skimming