Bitcoin, tenuous as it may be, is increasingly popular as a form of currency. Apple Pay also looms on the horizon for those still wanting to use cash in a digital sense. Square is also working their service into more businesses, and have slyly announced a new register that will take advantage of both of those technologies.
At the opening of their new offices in Canada, CEO Jack Dorsey mentioned the new register. “We’re building a register so that sellers can accept a credit card, so they can accept cash, so they can accept a cheque, so they can accept Bitcoin and so they can accept any form of payment that comes across the counter including future ones and burgeoning ones like Apple Pay” he told CBC.
When prompted for clarification on Dorsey’s comments, Square spokesman Johnny Brackett said “Square sellers should never have to miss out on a sale. They should be able to accept any form of payment”. He declined to clarify when these new registers would make their appearance in the wild.
Bitcoin is its own animal, and is still nascent as a form of currency exchange for businesses. The rough waters of trading Bitcoin also scare some off, but the interest is there.
Apple Pay is going to be fairly widespread, should Apple’s iPhone 6 users actually want to pay for goods with their phone. Relying on an iTunes account and cold, hard cash is much more attractive to your local coffee house than a fluctuating virtual currency.
And therein lies the use case for a new Square scheme. Square has traction in the market, and should they find a way to bridge the troubled Bitcoin exchange waters for your local restaurant or co-op grocer — they might be onto something big.
As for including Apple Pay, well, that’s just a smart thing to do.