Square’s New iPad Payment Service Will Make Cash Registers a Thing of the Past

Square’s new payment application recently registered 1 million card reader transactions, 500,000 mobile payments and $3 million daily payment processing last May. Jack Dorsey, CEO announced that more is coming up with the new generation of Square. Square Register is next in line, a key sales application that is seen to replace the old cash registers and sales terminals. The Square Card Case will also be launched together with Square Register; with Square Card, consumers are able to access from a single account to check merchant’s pricing, location and loyalty points earned.

All transactions for the Square Register, Square Card and Square Card Case will use the iPad app and iPhone. Transaction is very easy through the phones headset or microphone jack with the use of a credit card swiping device. This brilliant idea from Jack Dorsey and McKelvey will get the support from its partnership with Visa.

iPad Square Register

Square Register from the iPad application will serve even small scale businesses that have needs for an efficient payment processor.  Square’s COO, Keith Rabois said that this application will make communication with customers more pro-active. It will have features that will allow storage of customer receipts that can also be sent via SMS or email. And with the new upgrade, merchants can easily send the customers a download link for the Square Card Case. This card case is where all the merchant information will be accessed by the customer via Google Analytics.

Handy and Convenient Square Card Case for Consumers

Shopping experience for consumers will be revolutionized by the Square Card Case. It is very handy because it is right into the iPhone applications. The image seen is actually like a wallet where all loyalty and credit card information are installed within the system. So basically, when a customer goes to a merchant to purchase, they can download the link that will allow them to see all the product offerings available.

This serves as a wallet because it can store all information from all the stores regularly visited by the customer, give data on store locations and all merchant’s contact information details. This application will also store purchase history and what’s more interesting is the new purchasing option. If a consumer decides to purchase a product, he just has to press the “use tab” from the menu, this will automatically send the data to the merchant and once the name and identity is verified, the purchase is finally processed.

Information campaign on the use of the new Square Register, Square Card and Square Card Case will be provided to consumers, participating merchants and banks. It is a foreseen trend that will make the old system irrelevant and obsolete. This application is not tailor made for large scale companies only; meaning even small to medium businesses can use the Square Register, Square Card and Square Card Case. If financials are to be asked, the new Square application will retain the 2.75 transaction fee. In the end, Square hopes to remove all payment hassles and be partners with payment service giants like PayPal and Visa.

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