Square Cash goes social with $Cashtags, also expands to businesses

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Square Cash was launched two years ago but now it seems to be gaining traction by putting a social spin on mobile payments. Users of Square Cash can be identified by unique $Cashtags rather than phone number or email. Simply get your friends’ $Cashtags and send them money instantly with just a few taps. This way to identify users will also be a great help for the arrival of businesses on Square Cash. The service allows businesses to accept payments with a fee of only 1.5%, meaning that a considerable amount of revenue is retained.

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Square claims $10 billion in annual mobile transactions, not including Starbucks

Mobile payment giant Square Inc. has announced today that it is now processing $10 billion in transactions annually, thanks to its widely adopted  mobile payment infrastructure. Just a few weeks back the company made it known that it was raking in $8 billion annually, equating to a $2 billion increase in less than a month.

Similar to Google Wallet, users are required to have an application installed, whereas brick-and-mortar retailers must have the company’s physical checkout system to conduct transactions. Interestingly, it’s being reported that this figure doesn’t include payments processed by Starbucks, whom the company struck a major deal with earlier this year to install its systems in 7,000 stores.

Taking into account the amount of money that flows through Starbucks stores each day, it’s entirely possible Square could see its yearly processing figure double.

Source: Square (Twitter)
Via: TechCrunch

Square mobile payment solution now available in Canada

For small business owners or individuals selling goods or services, a common business challenge is the ability to accept payments from customers wanting to use a credit card. This is especially true for those who conduct business “in the field” or otherwise don’t have a fixed point-of-sale system. Square introduced a unique solution to this problem in the form of a mobile card reader that plugs into the headphone jack of iOS or Android devices. Users can then accept payments using the Square Register app on the device for a fee of 2.75% per swipe without having to jump through the normal hoops associated with establishing a merchant account with a financial institution.

Until now, one of the limitations has been geographic as Square was only doing business in the U.S. That changed today with Square’s announcement that they are expanding into Canada. Hit the break to read the full press release. Read more

Square’s Card Case is now Pay With Square, Pay merchants without touching your phone

With all the talk about NFC, how about the ability to pay merchants by simply telling them your name? One of the most popular mobile payments service providers, Square, just reintroduced the Card Case app as Pay With Square. Card Case has actually been around for a while, but now it’s a whole lot better. With Pay With Square, the biggest change is the ability to automatically open a tab when you arrive, which means you never have to touch your phone. All you have to do is tell them your name and your done. You will also be able to find supported merchants quicker, save them to your favorites, and easily share them with your friends.

Hit the break for a demo video and download links

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