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Square’s new iPad ‘cash register’ — nice

There’s a nice post on TechCrunch today about mobile payments genius, Square. They’re certainly beginning to rock the marketplace. The numbers in the first paragraph alone read very much like ‘job done’ in the context of Silicon Valley. I’m particularly excited by their iPad ‘cash register’.

Just like many organisations have jumped to Google Apps, I don’t think it’ll be long before we see a lot of stores deploying iPad/iPhone/Android cash registers.

Mobile payments startup Square is announcing big numbers today—500,000 Square card readers shipped, 1 million Square transactions in May, and the startup is now processing $3 million in mobile payments per day. Clearly the company is on a roll in terms of traction and usage. And CEO Jack Dorsey is also revealing the next generation of Square. And Square is about to get a whole lot more disruptive.

via TechCrunch: Square’s Disruptive New iPad Payments Service Will Replace Cash Registers.

By Ewan

Ewan is Founder and Editor of Mobile Industry Review. He writes about a wide variety of industry issues and is usually active on Twitter most days. You can read more about him or reach him with these details.

2 replies on “Square’s new iPad ‘cash register’ — nice”

Despite being easy to use, by clipping a very large 2.75% of every transaction only small businesses will adopt Square’s offering. That takes a huge cut out of profits for the retailer. Any retailer that has some resources will develop or buy a mobile POS solution that either integrates with their existing legacy POS, or work on a more holistic strategy to replace a legacy POS system with a more modern one. They will see the long term benefit of not forking over that 2.75% for every transaction. That’s alot of dough taken off the bottom line!

Andrew

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