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Transcript of Square Inc
Sqaure Inc. is a privately held company
Making Commerce Easy
Buying and selling sound simple and should be
Create one cohesive service
Millions of businesses of all types and sizes can accept payments with square
Ashley Paone, Nick Lindgren, Aspen Burke, Tracy Schnoll, Kerry Donovan
- Lowest Rate
- High sales/growth rate
- Device Capability
- First mover advantage
-Not enough customer support
- Ranks 7th in core influencial mobile payment companies
- Growing demand
- Bitcoin integration
- Anticipation of IPO
- International Expansion
-Trust users and security
- Potential technolgical errors
- High competition
Lifestyle Traits: Smart Phone & Apple iPad users, On-the-go
May 2013, Founder Jack Dorsey amended the terms of service for retailers to ban sales of "firearms, firearm parts or hardware, and ammunition".
Benefits: Entreprenurs, Business Owners and Professionals (espcially ones who aren't financially or technically savy)
Food and Beverage
Bakery, Cafe, Restraunt, Food Truck
Health and Fitness
Personal Trainers, Gym
Lawyer (Mobile Office)
Home & Repair
Leisure & Entertainment
Tangential competitors but no direct ones. Square is currently the only company that enables Card Present (CP) transactions
For the small merchant that conducts a relatively low number of transactions - they can't go wrong with Square.
Chip Card Readers ready for pre-order
Square helps make business a little less work.
US, Canada and Japan
Credit Card Reader
iPhone: iOS 6 or later
Android: 2.3 or later
Small Local Business
Jewelry, Clothing etc.
Plowing, Landscaping etc.
Social media - TV/YouTube Commercials
Original Card Reader
Not required to release periodic financial statements
Fortune Magazine - "it's complicated"
Expects losses through mid - 2015
Estimated worth: $5 Billion as of January 2014
Until early 2013, a 2.75% fee on each transaction.
3.50% + $0.15 for each manually entered transaction
No monthly fees or set-up costs
Credit Card reader itself is free!
Early 2013 - change to $275 flat fee a month for users under $250,000 annual credit card sales and under $20,833 a month. Would otherwise revert to the original model of 2.75%
Chip and Pin reader - Spring 2015
Support for Apple Pay - expected sometime in 2015