Square, the mobile payments company, announced that they are expanding to Japan. This means that Square is now available in three countries including the U.S. and Canada. Square is being supported by the Sumitomo Mitsui Card Corporation, which is the same company that helped launch Visa in Japan.
Square, the popular mobile credit card reader company, has launched a new service called “Square Cash.” Square Cash allows users to send cash to a friend simply by plugging in an e-mail address. Square did not provide many details about the service, but we should hear more about the service soon.
Square has announced a new product that was designed specifically for the iPad called “Stand.” Square hosted an event at Blue Bottle Coffee in San Francisco for the product launch. Merchants have been using the iPad to connect to Square with the traditional card swiper. However this product turns the iPad into a full-on register. Square chose the iPad for their Stand product because the tablet accounts for nearly 50% of total payments processed by Square. The average payment volume processed by these customers is over double the average volume that are processed by Square customers that use smartphones.
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Jack Dorsey, the creator of Twitter and founding CEO of Square, has partnered with auction manager Kompolt to set up a lunch meeting at Square’s office in San Francisco that will benefit charity. The auction started on May 6th and will end on May 16th. There are around 3 days left with a current bid of about $5,000. The auction will benefit the BUILD.org charity. The auction winning bidder will be allowed to bring a total of eight people.
Square, the popular mobile payments company, is going to start building a recommendation engine based off of collected payment data. This recommendation engine would have the ability to compete against services like Foursquare and Yelp. Square’s recommendation engine will be able to suggest places for people to visit based on their previous purchase history.
Square has updated their Square Register point-of-sale iPad app. The update is intended to better serve restaurants. Some of the new features include customer order modifiers and customizable kitchen tickets. This allows restaurants to take orders and serve food efficiently.
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Square is a popular mobile payments company that has received a cease and desist order from the Illinois Department of Financial & Professional Regulation as found in a document by Thomas Noyes. According to a statute in the the Transmitters of Money Act (an Illinois state law), “No person may engage in this State in the business of selling or issuing payment instruments, transmitting money, or exchanging, for compensation, payment instruments or money of the United States government or a foreign government to or from money of another government without first obtaining a license under this Act.”
Square has launched a new package called “Business In A Box.” The Business In A Box helps small businesses quickly get set up with Square products. The Business In A Box comes with two Square Readers, an iPad stand, a cash drawer, and a receipt printer.
