Comments on: Amidst Rising Competition, Square Launches

By: Jason Pelker

Jason Pelker — Tue, 18 May 2010 22:26:32 +0000

The seller pays 3%. That's standard--see PayPal or any other terminal system for that matter.

By: John Di Domenico

John Di Domenico — Mon, 17 May 2010 22:57:02 +0000

those fees seem really high don't they. neat piece of equipment but almost 3% of everyhting I buy?

By: Om Malik

Om Malik — Tue, 11 May 2010 22:30:26 +0000

Luis

I am with you on this one and am totally convinced that these guys are building somewhat of a bigger play that what they are showing. I think your guess/prognosis makes perfect sense.

By: Luis

Luis — Tue, 11 May 2010 21:25:37 +0000

I would make a bet that this is a software play and not a hardware one. Forget the mag reader and think of the software with the ability to do NFC both ways! But while we transition from the magstripe to NFC there would be time to perfect the wallet/terminal software. All the SNS hooks will be there when the time comes.

By: David Mytton

David Mytton — Tue, 11 May 2010 19:49:24 +0000

One of their biggest differentiators is their focus on the user experience with beautiful graphics and design. Apple does it with their products and going for the "what would it look like if Apple did this" approach is a great way to stand out, particularly since they're targeting the iPhone and iPad.

With the benefit of hindsight, it would be interesting to know what the competitive landscape would've looked like if they'd followed Apple's approach to announcements - secrecy until the product is finished and ready to ship.

By: Om Malik

Om Malik — Tue, 11 May 2010 18:47:52 +0000

Brian

I just think they need to take a step forward by building more social intelligence in their system. I am positive on the company as well and I intend to get a square for myself as well.

By: Brian S Hall

Brian S Hall — Tue, 11 May 2010 18:25:17 +0000

Om, I have to say, I have much higher expectations for Square. A free app, a simple system, specific, reasonable fees and especially the fact that no merchant account is required -- anyone can accept credit cards!

Plus, they are already on the iPhone and Android, and I think that's where all the action will be. I also am going to assume they can utilize their past work and incoporate social functions, fully real-time transactions and hyperlocal services.

I guess we'll see. It's probably going to help propel the US into smartphone payments, even if Square itself fails. Either way, we win;-)