This device gets plugged into the headphone jack of your iPhone, Android, or iPad, and you have the ability to accept a credit card payment. Signature is required and can be done right on the screen. Then the transaction is conducted, providing both participants with copies of an e-mailed receipt.
The rapid progression of technology that has recently taken place - especially involving smart phones - astounds me. To think that I could have the ability to conduct completely paperless financial transactions is particularly appealing. How great would it be to eliminate the need for physical cash and receipts altogether? Very green.
Each individual would need a Square, a Square-compatible device, and a credit card, and all transactions could be electronic (AKA waste-less). As a promoter of environmental awareness, this aspect of technology decreasing physical waste is appealing to me.
Of course the adaptation to this new way of doing business would never be universal. Still, as this innovation gains popularity, it is will be a huge jump in business for apple and credit card companies, and somewhat unnerving for consumers.
The notion of going completely technical, while it has its environmental pros, is not the most secure of ideas. In a world where identity theft is experienced by 11 million Americans from 2008 to 2009, I know that I'm not completely comfortable swiping my card - with my account information incorporated into a magnetic stripe - on another person's phone. Sure, I would swipe my card at a store...but, even with that, I use discretion. Maybe it's not as safe as I believe it to be, but the fact that there is a company that can be held liable if any fraudulent charges are made, secures my decision to swipe.
According to the Square website, "Card numbers, magnetic stripe data, or security codes are not stored on Square client devices." So, my question is answered. Still, I and the remainder of the hesitant consumers will feel a sense of vulnerability when putting our information into an untraceable interface, where things are no longer physically track-able. I guess, it will take some getting used to, and like the rest of the internet, will come with its security breaches and general consequences.
Each individual would need a Square, a Square-compatible device, and a credit card, and all transactions could be electronic (AKA waste-less). As a promoter of environmental awareness, this aspect of technology decreasing physical waste is appealing to me.
Of course the adaptation to this new way of doing business would never be universal. Still, as this innovation gains popularity, it is will be a huge jump in business for apple and credit card companies, and somewhat unnerving for consumers.
The notion of going completely technical, while it has its environmental pros, is not the most secure of ideas. In a world where identity theft is experienced by 11 million Americans from 2008 to 2009, I know that I'm not completely comfortable swiping my card - with my account information incorporated into a magnetic stripe - on another person's phone. Sure, I would swipe my card at a store...but, even with that, I use discretion. Maybe it's not as safe as I believe it to be, but the fact that there is a company that can be held liable if any fraudulent charges are made, secures my decision to swipe.
According to the Square website, "Card numbers, magnetic stripe data, or security codes are not stored on Square client devices." So, my question is answered. Still, I and the remainder of the hesitant consumers will feel a sense of vulnerability when putting our information into an untraceable interface, where things are no longer physically track-able. I guess, it will take some getting used to, and like the rest of the internet, will come with its security breaches and general consequences.
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