Wednesday, March 19, 2014

Starbucks Squareup'd. Have you?

In 2012, Starbucks teamed up with Square, a merchant service company built in 2009 by twitter creators Jack Dorsey and Jim McKelvey. The idea of merging was to advertise the company services such as a digital wallet called "Square Wallet" as well as it's advanced technology to process all credit and debit card transactions. Over time, Square's vision is to build a cashless society. Starbucks teaming up with Square, will allow it's customers as well as Square users to take advantage of the Square technology, eliminating having to take your phone out of your pocket to pay by mobile or even signing a receipt. Square has a full GPS technology allowing the customer's phone to notify the store when a customer has entered the store and their name and photo will pop up on the cashier's screen. All the customer has to do is give the cashier his or her name and the payment will be complete once it is confirmed.

Of course, digital payments are still on the rise. It's not widely used yet but that's the obstacle that Square just has to tackle. Square was introduced in 2010 and the idea of it is related to how you may use Google (Google Wallet) and Paypal. Mobile payments of course are offered by more companies and services now. But because not every store, retailer or company are willing to cooperate or update with the technology, it's hard for Square to become more popular.

I feel that for this technology, I would love to try it out and hopefully more businesses will adopt the idea of digital payments. But, as the US is slow with technology as well, it can be very doubtful that the technology will be updated anytime soon. We'll just have to see, wont we? :)
What about you guys? Would you try out Square? What are your thoughts?
Be sure to check out the articles below as well as the website for Square to learn more.



http://www.nytimes.com/2012/08/08/technology/starbucks-and-square-to-team-up.html?_r=0
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=83920810
https://squareup.com
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6 comments:

  1. Social NetworkingMarch 19, 2014 at 9:52 PM

    Personally I would not use square right now because I do not trust the technology. Since it is so new and the US has not widely adopted it, I am concerned about the safety of my information. I am not sure who is able to view my information or where the information is going exactly. Of course, every transaction completed through the use of technology has its risks. Once more US companies adapt square to their payment options, it will be accepted over time.

    Katherine Maxwell

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    1. UnknownMarch 19, 2014 at 9:57 PM

      That's truly the heart of the problem. The technology hasn't been widely accepted. Technology even though we heavily depend on it is still not something we can trust. But I also believe once people are able to adapt, it will eventually become widely accepted. Would you also be willing to try Square though since the security is definitely promised. Just like social networking sites. You compromise with that, so why not Square?

      Delete
  2. UnknownMarch 26, 2014 at 12:05 PM

    http://dealbook.nytimes.com/2014/03/25/i-r-s-says-bitcoin-should-be-considered-property-not-currency/?_php=true&_type=blogs&_r=0

    Interesting article on the new Bitcoin views from the IRS. They have now declared it as property or assets versus a currency. Its going to be awhile before Bitcoin will be allowed as a cyber payment.

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  3. UnknownMarch 29, 2014 at 12:05 AM

    My organization has a Square account and uses a Square reader to collect dues. I believe it is secure, as it is a user-to-user payment. It has been wholly effective in allowing us to become more efficient in collecting payments. We even used a Square account online for fundraising transactions. However, I still do not fully understand the technology. I know that my organization has not had any problems with it nor have I heard of any other major mishaps with Square from other users.

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    1. UnknownApril 2, 2014 at 3:19 PM

      That's awesome! I don't know anyone personally who does use Square. I would like to try it out though if I have the chance to. There is yet to be any big problems with Square. Not any that has been blown up media wise. I hope that they can continue to grow as well.

      Delete

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