If you’re wondering why Jack Dorsey’s payments company Square hasn’t launched in Europe, here’s one possible answer. The market is just too competitive.
Already several European companies do what Square does – allowing small businesses to process card payments without a monthly contract. They are now engaging in a price war, ripping up the 2.75 per cent transaction fee that Square made standard. Read more
Coffee and techies go together like donuts and policemen, one the voracious consumer of the other. They have named programming languages after the stuff. And so the alliance between Starbucks and Jack Dorsey’s Square mobile payments start-up seems quite natural.
Starbucks has never been shy of experimenting with technology, having been one of the first US coffee shop chains to offer customers free wi-fi access. Starbucks also has its own mobile app, which allows customers to pay for their coffees using a phone. Although these mobile payments are still just a tiny fraction of overall revenues, it is considered one of the most successful mobile payments systems in use so far. Read more
Carphone Warehouse co-founder Charles Dunstone and Index Ventures have invested €8.2m ($11.2m) in iZettle, Europe’s answer to mobile-payment firm Square.
Sweden’s iZettle operates a payment system for small or nomadic merchants – be they market traders, window cleaners or conference-goers – through a card reader that attaches to the bottom of an iPhone. Read more
Tech news from around the web:
Facebook is updating its photo viewer, ZDNet reports. Facebook Photos will look cleaner, easier to view and bigger.
The Atlantic’s Alexis Madrigal reports that the mobile payment service, Square, is growing through out the US. Data from the company shows that “just about every major city and plenty of smaller places have someone using the device”. Read more
The Square personal commerce system, which allows iPhone and iPad users to accept credit cards, could also make it easy for people to convert stolen credit card information into cash, security researchers said on Thursday. Read more
Jack Dorsey, the creative talent behind Twitter, has clearly taken a leaf from Steve Jobs’ playbook. But revolutionising in-store payments will be a lot harder than persuading people to pay for digital music. Read more