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  This is pretty cool, take credit cards on your smartphone.
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Unregistered
Posted 1/27/2012 6:59 pm
It's probably been posted, but it's the first i've seen.

https://squareup.com/



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Unregistered
Posted 1/27/2012 7:05 pm
Neat. I don't get the point, though.



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Unregistered
Posted 1/27/2012 7:55 pm
So you can pay an extra 2.75% for everything you buy? How dumb are people getting?



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Unregistered
Posted 1/27/2012 7:56 pm
. said:So you can pay an extra 2.75% for everything you buy? How dumb are people getting?



The merchant pays this.



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Unregistered
Posted 1/27/2012 7:59 pm
. said:Neat. I don't get the point, though.


The point is for small businesses that take credit cards, this device keeps you from having to have a hard-wired credit card machine.

Food trucks, farmers markets, pedocabs... all kinds of businesses would benefit from this.



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Unregistered
Posted 1/27/2012 8:05 pm
. said:So you can pay an extra 2.75% for everything you buy? How dumb are people getting?



Obviously not as dumb as you. :lol:



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Unregistered
Posted 1/27/2012 8:28 pm
. said:The merchant pays this.

:rolleyes:



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Unregistered
Posted 1/27/2012 8:29 pm
. said: :rolleyes:



How stupid are you? The merchant pays close to that fee with a traditional register credit card setup.



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Unregistered
Posted 1/27/2012 8:30 pm
they've had this for the iphone for a few yrs now



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Unregistered
Posted 1/27/2012 8:32 pm
This is a scam. Basically they charge a commission which is the same as for online transactions even though it is in fact "card present" present transaction which traditionally carries a lower fee.



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Unregistered
Posted 1/28/2012 12:12 am
. said:This is a scam. Basically they charge a commission which is the same as for online transactions even though it is in fact "card present" present transaction which traditionally carries a lower fee.



You're a fucking retard. We use this for our business. The rate is lower when you swipe the physical card than when you punch it in online.

We've even been to a restaurant (small hipster-shitty taco joint) that processed their cards this way.

It's awesome, I highly recommend it. Fuck PayPal, I hope they rot in hell.



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Unregistered
Posted 1/28/2012 12:13 am
. said:How stupid are you? The merchant pays close to that fee with a traditional register credit card setup.



Yeah, this was actually the lowest-fee system we could find, and it's easier than any other, too. A definite game-changer.



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Unregistered
Posted 1/28/2012 12:15 am
. said:Yeah, this was actually the lowest-fee system we could find, and it's easier than any other, too. A definite game-changer.



Too many know it all trevs here who think they are an expert by reading some blog post. :lol:



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Unregistered
Posted 1/28/2012 12:16 am
I bought some stuff off a vendor at a fair last year and she used one. :thumbup:



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bensa
Colorado Cantaloupe

8832 posts
Posted 1/28/2012 12:19 am
They sell the readers at Target. Saw them in the ipod section last week.



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Unregistered
Posted 1/28/2012 12:20 am
The vendor or person scanning pays the fee. It is good for small businesses, charities, hookers, drug dealers.

2.75% is a pretty good rate for a credit card fee for a small merchant.



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Unregistered
Posted 1/28/2012 12:21 am
. said:The vendor or person scanning pays the fee. It is good for small businesses, charities, hookers, drug dealers.

2.75% is a pretty good rate for a credit card fee for a small merchant.



It's actually a really good rate for a small business type, and the best part is that you don't have to deal with paypal.

It'd be worth twice the charge for that alone.



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Unregistered
Posted 1/28/2012 12:22 am : Edited 1/28/2012 12:23 am
It's been around for a while.

It might be useful for selling used cars & furniture on craigslist.

A potential buyer shows up, test drives your car, and wants to buy your $3000 used car, but doesn't have his checkbook with him, or doesn't have enough money in his checking account right now.

Or the buyer visits your garage sale / open house, likes your $500 couch, but doesn't have the cash with him.

If you let him walk away and think about it, he might change his mind, you may never see him again.

But if you can take credit card payment right there, he can take out his credit card, swipe it, and you're done. Deal closed.



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Unregistered
Posted 1/28/2012 12:23 am
. said:It's actually a really good rate for a small business type, and the best part is that you don't have to deal with paypal.

It'd be worth twice the charge for that alone.



Yep, I know why my company pays and we have billions CC charges.



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Unregistered
Posted 1/28/2012 12:23 am
. said:It's been around for a while.

It might be useful for selling used cars & furniture on craigslist.

A potential buyer shows up, test drives your car, and wants to buy your $3000 used car, but doesn't have his checkbook with him, or doesn't have enough money in his checking account right now.

Or the buyer visits your garage sale / open house, likes your $500 couch, but doesn't have the cash with him.

If you let him walk away and think about it, he might change his mind, you may never see him again.

But if you can take credit card payment right there, he can take out his credit card, swipe it, and you're done. Deal closed.



You gotta be a fucking idiot to take a credit card in a used car transaction.

Chargeback much???



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bensa
Colorado Cantaloupe

8832 posts
Posted 1/28/2012 12:24 am
The vendor rate is called the "discount rate" which is the fee charged the vendor. So when you look at your bank account, they take 2.75% off the top. Some banks also charge a transaction fee too. 2.75% is not bad actually. I remember that AMEX might charge 3.2% a long time ago.



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Unregistered
Posted 1/28/2012 12:27 am
. said:You gotta be a fucking idiot to take a credit card in a used car transaction.

Chargeback much???



Many car dealerships will let you buy cars with credit cards. I bought my car with credit card.



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Unregistered
Posted 1/28/2012 12:28 am
bensa said:They sell the readers at Target. Saw them in the ipod section last week.



Square gives them away for free. This could be like them being sold in Apple stores, where Square is comping the purchase price: http://techcrunch.com/2011/04/21/apple-selling-square-reader-although-its-free/



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Unregistered
Posted 1/28/2012 12:31 am
Most people who aren't idiots use a cash-back card so you're only talking 1.75% or less.



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Unregistered
Posted 1/28/2012 12:33 am
. said:Most people who aren't idiots use a cash-back card so you're only talking 1.75% or less.



:facepalm:



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