The early adopter in us has started to embrace the idea of NFC payments on mobile, looking forward to the days when we can leave our cash and cards at home and want for nothing. Bring on Google Wallet and bring it on fast, we say. But wait!
If Square has anything to do with it, leaving our cards at home is the last thing we’ll be doing, if its innovative payment system takes off. Marrying new and old, this new way to pay works with an attachment that plugs into the 3.5mm headphone jack of an iPhone, iPad or Android tablet and reads the magnetic strip of a card to process the payment.
Having just hit one million activations in the States, Square’s tech opens up being a merchant to a much wider range of people. Personal trainers can take payments in the park after a session, freelancers can get paid on the fly or friends can simply pay one another back for a movie ticket with a phone and a Square.
Square is currently supporting individuals and businesses in the US only, so don’t expect to see it here anytime soon. We hope this changes, as with 2.75% fixed rate, next day payout and a free reader and app, it’s no wonder it’s hit a million activations. Have a look at iJustine’s video review from earlier in the year for a more in depth look at Square.