Square, the visionary leader in point-of-purchase credit card acceptance for small business, has just launched a new app called Pay With Square, which aims to bolster the name recognition of Square and expand its reach to beyond just those with a small business and an iPhone. As part of the app overhaul is a new, enhanced discovery feature that lets curious users know when they're near a Square-enabled business.
So users who want to support small businesses can now have a much better sense of where to go. Plus, when they enter the restaurant or shop, as long as they happ the Shop With Square app opened, their purchase is billed directly through the app - no need to exchange cash or credit cards. And it's also available on Android. In other words, Square's approach to mobile payments now is that it should be a completely software-driven approach. Actually swiping a card is so last decade.
This is the latest in what has become a very interesting chapter in mobile payment technology. Just in the past few months, PayPal has launched its own physical mobile credit card reader, Square has gotten the go-ahead to provide in-taxi mobile payments, and Google Wallet competitor Isis has begun rolling out scattered trials. It's certainly an exciting time for this nascent market, and that means every player needs to step up the game. That means it's a win-win for consumers.