website statistics

1 Star2 Stars3 Stars4 Stars5 Stars (Rate This)
Loading...

Square, the well-funded startup that found itself on the winning end of a pissing context with VeriFone last month, because it refused to encrypt mobile payment transactions has now reversed course and embraced such encryption and Visa had made an unspecified investment in Square.The current reader theoretically scans credit card data to any app, but the encrypted version will only work with Square, which should alleviate VeriFone’s concern that the company was essentially distributing card skimmers to anyone with a social security number and the new encrypted reader will remain free…………..

 

Apple is now selling mobile payments startup Square‘s credit card reader unit via the online Apple Store, casting further doubt on the computing giant’s plans to integrate Near Field Communications-based payment technologies into future iterations of its iPhone.The brainchild of Twitter co-founder Jack Dorsey, Square enables users to accept credit and debit card purchases anywhere and anytime via iPhone, iPad or Android smartphone. Sellers input the transaction total, swipe the consumer’s card through a small dongle that plugs into the device’s audio input jack and Square handles the remainder of the transaction, claiming a flat 2.75 percent fee. Square first launched in late 2009 and currently processes more than $1 million in transactions each day–in addition, more than 100,000 merchants nationwide sign up with Square each month. The Square reader now for sale via the Apple Store is priced at $9.95 per unit, although all accounts receive $10 instantly upon activation–TechCrunch reports Apple will also offer the Square reader in its U.S. brick and mortar stores beginning this week.

 

Apple‘s decision to embrace Square further calls into question the company’s commitment to NFC-based contactless payment technologies. Last month, The Independent reported Apple has told executives at several U.K. mobile operators that it will not embed NFC technology into the forthcoming iPhone 5, citing apprehension over the absence of clearly defined industry standards. It is believed that Apple engineers continue to work on an NFC solution, however earlier this year, Bloomberg reported that the computing giant’s mobile wallet efforts likely will leverage Apple customer information already on file, e.g., credit card account numbers, iTunes gift card balances and bank data.At present, Apple pays credit card processing fees on all iTunes and App Store purchases by introducing payment services that directly tap customer bank accounts (à la PayPal), Apple could reduce its own costs and enable its partners to trim their prices of their respective products and services. Apple also faces pressure to keep pace with its rivals: In February, Google issued Android 2.3.3, adding new proximity-based Near Field Communications capabilities including an NFC reader/writer API and Research In Motion co-CEO Jim Balsillie has promised the majority of new BlackBerry devices shipping in the coming months will integrate NFC technologies, enabling support for mobile payment solutions and other location-specific services. Moreover, Isis–the nationwide mobile commerce network announced late last year by partners Verizon Wireless, AT&T and T-Mobile USA–will roll out a Salt Lake City pilot program in early-to-mid-2012.


Thanks

Buy Cheapest Related Product From Amazon.com


iZettle iPhone Credit Card Reader

Worldwide Operating System Software Market Grew to $30.4 Billion in 2010
You can also press the left/right arrow key on your keyboard to go to previous/next post
  On May 2, 2011(5 years, 2 months ago.)

You May Also Like:

What Do You Think?

1 Response

  1. Jim Says:

    I own a two-man company whewrein my tech in the field needs to receive payments all the time.  Instead of his collecting checks all the time, having to get them to me (we live 75 miles apart), me depositing them and then paying him, now he just uses the new saquasre card reader on his smartphone.  The funds are in my acct that day or the next at the latest, and he gets paid right away.  Either download the app and have them mail the reader for free (which plugs into the earbud jack), or buy one at target or wal-mart and there’s a $10 rebate to run as your first proud transaction.  Sturdy, lightweight, small, and easy to use softwarre make this the winner for technology for me this year.  Cool as can be…

    Posted on April 26th, 2012 at 12:45 PM

Leave a Reply




Loading Facebook Comments ...

FTC Disclosure: Some of the links of this website are "affiliate links." This means if you click on the link and purchase the item, we will receive an affiliate commission.


Recent Search

Recent Tutorials

CiderTV is a great alternative to control Apple TV from the Notification Center. Check out this tutorial to set up CiderTV on your iPhone.
Are you annoyed by the split screen mode on the iPhone 6 Plus or 6s Plus? Check out this quick tutorial to turn off split screen feature.
If you could not wait to installed the iOS 10 beta version on you iPhone and now struggling for the errors, then this tutorial is for you.
Siri might not understand the question you asked. But you can use Siri by editing the text that you asked & it will give an updated answer.
Perhaps, you are new Apple user and you might have no idea how to change name of your iPhone. Check out this tutorial to change the name.
Check out this tutorial to lock Android phone using PIN code, Password or Pattern. Following the easy steps, you can secure your smartphone.
If you could not figure out yet, how to save and send GIF from your iPhone, then this tutorial is just for you.
Google released 'Ambient Display' feature with Android 5.x Lollipop. Check the tutorial to know how to turn off Android’s Ambient Display .
Have you recently got your 3D Touch iPhone 6s and struggling to delete apps? Go through the tutorial to learn how to delete or move the apps.
Just read this tutorial by yourself and from now on, we will show you, how you can make your iOS device read text loudly for you.
Close You Have To Login
User:
Pass:
Login With »Login With TwitterLogin With Facebook