Square for iPad Now Available, Set To Revolutionize Purchasing For Sellers And Buyers
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The hugely popular credit card payment service Square has just released an update to their app that may just change the way we shop. Not only is the app now available on the iPad, but it comes with some consumer driven features that make it easier for you to buy from small businesses, while making it easier for small businesses to sell to you.
Since its launch in early 2010, the company has blown its competitors out of the water . According to Techcrunch, it skyrocketed to $1 million in transaction payments in the first ten months, doubled its transaction payments two months later and is now at $3 million. Gigaom suggests this overwhelming success may be due to Square’s 2.75 % transaction fee, “Square’s decision to stay away from plans and instead use a simple, clear, no-nonsense fee structure has made it appealing to small business and independent contractors alike.”
With its tremendous success, Square is on track to create a new business model that will allow consumers to start their shopping experience before they even arrive at their local shops by opening a tab and paying for goods and services without even needing to bring cash or a credit card.
This new technology is being called Square Register and is available today with version 2.0 in the iTunes store. According to MacRumors, “Analytics tools will allow businesses to see up-the-minute details on sales performance, broken down by any number of metrics to help businesses study sales trends.”Additionally, Square Register includes many new features that help businesses create awareness in their neighborhoods and help consumers purchase goods and services without a fuss.
The new feature that changes the face of buying and selling in retail stores is Tab. Tab allows customers to open a virtual tab at businesses so they do not even need to bring their credit cards with them. Once the customer makes their first purchase through Square, the information can be stored, including a picture of the buyer, and future purchase can be made with one touch.
Card Case, an invitation-only app that utilizes Square’s payment services allows consumers to shop virtually. Businesses can enroll at the company’s website to become a participating merchant. Once a customer makes a purchase, they can be sent an invitation to Card Case through a text message. This enables customers to access location Directory, check menus, open a tab and make purchases without a credit card.
In a press statement made by the company’s founder and CEO, Jack Dorsey, “We revolutionized the payment industry with the Square card reader which makes it possible for anyone to accept credit cards on their phone. Now, with Square Register, we’re reinventing point of sale with a beautiful, intuitive iPad app. Card Case goes beyond point of sale to transform the entire buyer-seller relationship.”
If the success of Square’s payment service in its first year of business is any indication as to how well its newest features, Register and Card Case, will do, we can look forward to a new way of buying and selling, at least in the small business arena.
