Jack Dorsey's Square In Action

[93Bluemind]

Jack Dorsey: you are insanely handsome and creative. I want your babies and you of course...

[z3ko]

oh you know, you can pay for your coffee with CASH , its pretty secure and FAST , takes about 2 seconds

[KaffCast]

@z3ko The whole point is credit card use. 0:45

[quixotic115]

Hmm why is it still using swiping as a means of making the purchase?...Why not go with NFC and just wave it, which is what the latest technology is.

I don't think this will work that well...looks cumbersome and awkward, still uses swipe; Android phones with NFCs can simply just wave it. This is just unnecessary imo.

[MorrisartsCool]

Hi Jack!! Jilly here...wow, the square is just what I am looking for!! Now all I have to do is get my Jilly Willy Art website up and I will be ready to sell my painted soooo right sarongs!! Thanks Jack!!

[tonyo7]

jack is awesome i want the square for my blackberry!

[GWIFOT]

Who is backing Jack and his Square?

1. Jack is the guy who started Twitter. He's got some credit, ya know.

2. Square received a valuation today of $240,000,000.00

I think its pretty secure.

Jack, you did it again. You're freakin' awesome!

[sporitus]

Why just do not use the On-line payments or mobile wallet ?

[bowlsallbroken]

@sporitus

Try asking the average client at a hot dog cart to pay with their mobile wallet. I think you'd get an awful lot of confused blinking. This system is great for mobile/low-volume businesses.

[dukeraider2]

why is the audio jack on the bottom?

[waitingforfall1]

No you don't - you just make a bit of hardware that looks like a Square (i.e. a card skimmer) and write a simple app that asks for a PIN - no hacking involved. Then set up a stall outside selling bargains - you don't actually make any transactions, you just skim card data and pins - simple.....then you go and trash your victims cards/bank accounts - don't use this thing!!!!

[cmh0114]

To hack this, you would need someone with a lot of computer knowledge - someone who knows how to write a program to access the hardware and duplicate the transferred data, without tripping any of the firewalls / alerts that the real program must use. For someone to "hack" your CC when you hand it to them requires 2 skills - reading and writing. Given the fact that you're handing them a CC for a purchase, they probably have both those skills and could easily steal your cc info.

[soulsurfer69]

I don't think it looks like it would be as fast as a traditional system for a coffee shop or restaurant, but it would be a great system for some delivery service or on the road type of store.

[TruthAxe]

Someone needs to teach Jack how to pitch.

It's taken little Jack :50 seconds to start telling us and then he fails.

Jack, try "We've come out with a debit /credit card card reader that attaches to an iPhone. This lets anyone accept card payment from anyone else without the need of a clearing house."

Who is backing this fraud Jack?

[rslinkbuilder]

why would you select someone with cerebral palsy to hold your camera - he shakes like crazy.

[alexmurrell]

Some points 1. The co-founder developed it as his company was too small to accept a $2000 credit card deal. Thus it's developed for small vendors and not to replace existing systems entirely 2. Would be interested to know if a similar version is in in production to account for countires that use chip & pin. 3. What's the difference in security by allowing a company to scan a card into a phone and into a till. The risk of cloning is the same. 4. Can see RFID payments taking over in larger stores.

[kingsadlee]

thats amazing.........

[EvilNerdx]

I think this should be one of those times where you look at something else for inspiration.

I mean Japanese cellphones have been used as a credit card for a while. Its popular quick and efficient without that bulky thing sticking out of the phone. I mean Japanese cellphone providers have actually have teamed up with actual credit card companies to do this.

He should take some ideas from them.

[kevincrave]

this would be great for online purchasing

[jamesdhayward]

Cash is still the King and quicker.. If I was in the coffee shop waiting for someone to swipe and pay for $2.00 coffee on a Credit Card.. I would take my business else where..

Could maybe see it for taking payment at table in a restaurant.

[yisacknayrabin]

And remember the time that idiot geek came up with a slower, less convenient way to swipe credit cards than the way we have been doing it for decades? Regression.

When will people stop insisting that new=better. If it aint broke don't fix it, especially if the fix is WORSE than the original! people are so incomprehensibly stupid, it's astounding sometimes.

[videoswitch]

I hadn't thought of your points before -- and I totally agree. New and cool definitely does not mean better. But often little inventions like this are just the beginning of something better down the road. Think of the guy who invented the first steam engine car -- in the early staged he could have been made fun of similarly as the die-hard horse and carriage enthusiasts.

[dojiijii]

Yisack, you're not seeing the potential here. This allows a CC to be swiped anywhere (e.g. at a table), without having to wait for a waiter to walk back to a station (taking your card with them), then come back for a signature, then wait again while he goes back and gets a receipt (there are belt receipt printers, btw). There are other devices that do this, they cost much more than an iPhone or iTouch. Square also allows merchants to take CCs without having a merchant account (a-la paypal).

[yisacknayrabin]

The time it takes to type your email into someone's iPhone (as evidenced in this very video) is longer than the printing of a receipt at a merchant terminal. It will encourage skipping receipts and less accountability in purchasing. To say nothing of the fact that you are swiping your CC info into somebody's RANDOM CELL PHONE. Why not just put your SS# on Facebook while your at it? It astounds me how stupid people can be just because they think new technology is "cool." Out of control.

[alexmurrell]

@yisacknayrabin Once you have a Square account and have made one transaction it'll remember your email address for future transactions. You could also ask the vendor to use your own Square to minimise the risk of fraud.

[yisacknayrabin]

That of course would be preferable, but then if everyone did that, you'd have longer checkout lines than the traditional method. "Hold on, my Square's in here somewhere," as they fish around the recesses of their pockets and handbags. So we go back to the issue of swiping your card into somebody's cell phone. The amount of time after Square is released to the time someone invents the "Square Ripper" iPhone Ap that stores CC data with a "single swipe" will be what, all of 10 minutes? Tops?

[alexmurrell]

As I mention in my main comment (above) I think this concept is developed for smaller companies who can't afford to invest in the current system and all the equiptment that it entails. As you say it offers no real benefits to those who already have an existing CC system installed. Agree with your concerns on security in general, but think innovation in the field of payment should be encourged. Can really see RFID payments taking off in the next few years.

[dojiijii]

@yisack: This more secure than handing your credit card to someone who takes it away and does who knows what with it. There's a level of trust involved in any CC transaction, be it at a restaurant, online, or wherever. Nobody is forcing you to use this as a customer; if you fear the advancement of technology don't have a credit card at all, just use cash.

[yisacknayrabin]

Of course this will be appealing to 20yr old tech heads at a coffee shop, but do we really need crank out anymore regressions in society simply because we have the technology. Like, remember when cell phones first came out and effectively replaced land lines, and the call quality is STILL worse than a land line. That's called a regression, not a progression. And remember when text messaging replaced phone calls and email, typing on tiny keyboards at the expense of grammar and speed? Regression.

[yisacknayrabin]

How is this a good idea? It's cumbersome, it involves the handing back and forth of somebody's cell phone, it involves swiping your credit card on somebody's personal cell phone, it's slower and more inelegant a solution than running a credit card at the merchant station in the traditional way, it doesn't provide an immediate paper receipt. Should I go on?

[siralantaylorATlive]

From the comments left below I would imagine there not made by business owners!

This is an amazing idea, it will allow small businesess like market stall owners, window cleaners, marqee & events companies, office food delivery businesess and thousands of others take easy and immediate payment! Giving another avenue to collect cash fast is so important to a small business, Square helps with getting payments when before you had to wait for a check etc.

[jamesdhayward]

Agree that it would be perfect the trades person, market stall owners etc.. however a coffee shop think the current systems will be the king in this game for the moment

[kaouthiavideo]

I get all the good points and convenience, but who's going to trust it? That could be anybody's cellphone that's scanning (and potentially cloning) my credit cards.

[jhdincal]

This would be great for bigger purchases, or for paying contractors who go to homes and need to close the deal.

[abcelu]

dumbest idea ever heard. SLOW AS HELL

[np231]

Im sorry but I'm not gonna give my creditcard to some dude with iphone that can scan the black strip .. what if it stores all the info and can make duplicate card afterwards... and this is nothing new..I think the way people pay now is much faster... lol... stick with twitter man...

[mechadennis]

I feel sorry for whomever funds these lame ideas. Maybe he should focus on making Twitter profitable first.

[brainiacbelle]

Terrlble idea, redundant and so easily hackable and corrupted .

[electriceddy84]

Unless his company morphs into some other type of payment system its a bit pointless.

Convenience drives success. If its harder to use that a current technology it simply wont work. Id hate to be in a queue with a bunch of nerds wanting to pay using their iPhone mechanically.

Contactless payments are alright, but skimming track date into an unsecured zone and not requiring a PIN is antique.

Take a step forward not back dude.

[AmmberSexyy]

i really need somebody to .... Well yah should find out^^

[askajemiraz]

Looks like a easy use for Card Skimmers. >.>

[technokitty16]

I love this idea. There are plenty of places where this would be ideal. And for anyone who has ever hurt themselves with a knucklebuster (you know what those are) to emboss a receipt, this is a welcome and elegant alternative! YEAH!

[jrobrien]

This is a perfect AR app possibility. Why don't they use a QR sticker on your card and set the database to email your receipts to you automatically. Then, you just flash the QR into ANY mobile camera, it beeps recognition and you walk away. This is just a worse way of doing something that's already a pain.

[pixelcow]

Great idea! :D Now it takes 50 times longer to pay this little amount compared to cash... Just imagine two people in front of you pay this way at the store!

[kanfor]

Is compatible with HTC, Samsung, Nokia, Sony Ericcson, Android, etc?

[marzuki1]

i'm personally more excited for when customers can pay with their smartphones. but I can see the use for this. nice project.

[Atafect]

Redundant technology invented because it could be invented is still redundant.

[assassinave]

Wow its amazing the vision people have. Think about all those occasions where you're like "fuck I don't have any cash to buy this amazing Dough Martsch replica beard". Bands can use this on the road for merch, farmers could use this at markets, artists, fashion people at shows, a million other things that aren't in my realm. There is no safe way to give your credit card to anyone, but we still do it every day

Stop whining and grow a pair you neo-Luddites

[superfluousD]

*Seems really ripe for theft!* - ...and besides; I think we all need to do less credit card payments & more cash transactions... these bank & credit card companies don't deserve our business the way they've been hiking up rates & fees...

[judaswang]

great idea, great prodcut, and great function. this product can be used in many industries, like transportation, cargo, and SOHO.

[carterson2]

I have an improvement, but I ain't tellin.

[israelandersonvideo]

Payment took 65 seconds, NOT 10 seconds as is claimed.

[darren]

You only gotta enter email first time you're using the product.

It would realistically take about 1-2 seconds to swipe, and 3-4 to sign.

Done.

[utube0019]

Oh no! I hate the project now.

[d1me07]

Yep!! Sure I'll give my credit card to some guy to swipe on his iphone. I would like to know what the thought process was when they came up with this one. This idea will fail.

[abenjani]

no doubt this could be great for accepting payments in remote locations, or sit down restaurants, but that was way too slow for most retail locations. I go nuts at the grocery store when the person in front of my whips out the checkbook.

[venuecam]

and all for a system that is supposed to be more convenient than using cash? handing over $4.00 in change he would've been out the door 5 mins ago.

[venuecam]

Why don't just post our CC numbers on a public forum on the internet. That would be a lot safer than this idea.

And in this day and age who do you think will want to proliferate the use of more credit systems? Poor invention.

[MrGreatsuccess]

36 seconds to pay!.. very very slow! In my local grocery store they've refused to get new credit card machines (chip-based) because that would slow an average credit card payment down from 8 seconds to 15 seconds!

[pedro0376]

that took way too long.

[torrlewis]

nice... next, let's find a way beyond the card altogether.