Square: App Will Be $1, Available This Summer, Dongle Included [Video]
At Macworld last week, Square Inc gave a public demo of their iPhone payment system to expo-goers and announced that it would be available to the public by the summer. For those who aren’t familiar with the system, Square is an iPhone application which allows anyone to accept payment by credit or debit card using the signature Square Swiper.
The big announcement is that, when Square goes live, the iPhone app will only cost $1 and the card swiper will be included for free. There will be a transaction fee of 2.9%, but users of the system will not need a special bank account to accept payments. The system is still being tested, but Square believes that we could see it launch as soon as April, although it may come as late as June or July.
Also coinciding with the announcement, Square released their official “Welcome to Square” video, which they showed to members of the Square Pilot Program. Some of the information in the video is only relevant to users in the program, but it shows off how well the system works. Check it out below!
We were lucky enough to actually use the system ourselves and we were very impressed. The demo allowed us to contribute money to the Red Cross, which was as simple as typing in how much we wanted to donate, swiping our card, and signing. The receipt came via email and included the location of the transaction, how much, and what for. Best part: no paper receipt. The possible uses for Square are virtually endless, especially at a $1 price point. Needless to say, we’re very excited!