Square rolls out new payment features
Square rolls out new payment features. First, mobile payments service Square made it easier for merchants to accept credit cards anytime, anywhere, with just a smartphone and a tiny, plastic credit-card reader. Now, the startup led by Twitter co-founder Jack Dorsey hopes to show them they can abandon cash registers, too.
Square already has a smartphone app that allows people to pay for items by swiping their credit card through a tiny reader that plugs into the headphone jack of a phone or iPad. Customers can sign their name on the device's touch screen, and then have a digital receipt sent to them via email or text message. About 500,000 merchants have these credit-card readers, which Square has given away for free since 2009. In return, the company takes a 2.75 percent transaction fee on sales.
