Square launches in Canada
The square application is a new application that was launched by the creator and co-founder of Twitter, Jack Dorsey. This is an incredible application and business venture for Dorsey because it allows anyone to accept credit card payments. This is a huge technological advancement, and looking at it on a business information technology viewpoint is beneficial for many small businesses. Small businesses such as a person who owns a small stall at a local bazaar or a piano teacher can buy the application and can then accept credit-card transactions.
This product is very simple to use. There is a free registration and only a 2.75% fee for all transactions. The disadvantage to this product is that it is very limited technological wise. It only accepts credit card payments and not debit, but it is a possibility that this will develop overtime to accept any forms of payment. Also, this application is limited to a very few smart phones. It is only available for apple devices and Google Inc’s android platform. If this application were to expand to the extent that debit card transactions were possible and other smart phones could download it would be great for individuals like Piano teachers who many not be an apple user.
Article link: http://business.financialpost.com/2012/10/24/square-launches-in-canada/