Square Launches Mobile Payments for iPhone, iPad, Android

May 17, 2010 

After making a big splash with its December Launch, Square said last week that it has made its mobile payment system available for iPhone, iPad and Android devices, enabling small merchants, street vendors and eventually individuals to accept credit-card payments anywhere. Square provides users a small credit-card reader that can be inserted into the audio jack of the phone to swipe cards. Consumers sign their name using the phone, and then the card is authenticated via the phone’s connection. According to published reports, Square charges a flat fee of 2.75 percent plus 15 cents for every swipe, and 3.5 percent plus 15 cents for CNP transactions. “Today, in addition to releasing clients for the iPhone, iPod Touch, iPad, and Android devices, we are opening up our first cut at activating card processing and pricing, and sending out our first production batch of free card readers,” Dorsey said in a blog post. “All represent just the beginning of what Square is striving to become: a simple payment utility for everyone.”