The flip side of mobile payment .
How . With the help of a programmer, the two have worked to create Square: a magnetic reader in like a white square (2.5 centimeters) to be inserted in the audio jack of your smartphone. Then I moved on to writing the software and its application for the iPhone. The system works extremely simple: After "crawling" the paper, the reader turns the magnetic data into electrical signals, the application at this point, translates the information in an encrypted file and mail servers to Square. And 'here, finally, that the transaction is completed through the global network. The person making the purchase is required to sign directly on the phone, and then decide if you like a receipt via e-mail or text message. Create an account and http://www.repubblica.it/tecnologia/2011/02/25/news/pagamenti_square_cellulare-12823085/ it is equally easy: just download the application by the Apple App Store or (new in the last days) from the Android Market, install it on your device, accept the terms of service and enter some personal data. Et voila: the box arrives by mail within 48 hours, but right now you can accept payments by typing on the iPhone or the Droid few, essential information on the paper and its owner.
costs. Of course, convert to Square has its cost: the system, in fact, "eat" 2.75% of each transaction, a figure that includes the company's earnings and reimbursements for companies credit cards. In absolute terms, the cost may seem higher than the activation and operation of a terminal "traditional", but - at least in the U.S. market - it is not so predictable. "There are several reasons why ordinary people do not accept credit cards," explains Dorsey. "The payment system is extraordinarily complex, opaque and expensive. First you have to apply for a merchant account through a bank or an independent organization. The only question involves a credit check, which can take up to one week. Then you have to buy the 'hardware, and for wireless equipment is around $ 900. Not to mention the monthly cost: between 15 and $ 25, even if customers do not buy anything. "For all these reasons, adds Keith Rabois, COO of start-up and former business manager for PayPal and LinkedIn," agrees traders Square is a way to enhance their business " .
[http://www.repubblica.it/tecnologia/2011/02/25/news/pagamenti_square_cellulare-12823085/]
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