I didn’t understand Square when it first launched. Why would I want to use a credit card to sell a couch to my friend via my iPhone? Cash will do, or an IOU. And I don’t sell stuff to strangers enough to make it seem worthwhile.
Maybe they got the same feedback, because their new video makes more sense - it’s not a technology for the consumer, it’s for the small business sellers. I started to get it.
And today at the local community markets I finally got it. The markets are full of micro businesses brewing artisan cider, hand crafting irresistible sweets, and growing organic veg. And you have to pay them all in cash, which is kind of ok, but I overhear a lot of “anyone know where an ATM is” and “I only have $10” comments.
If those vendors had an iPhone/Android with Square, all those problems go away. Plus they have an audit trail, the customer has a receipt, there’s less worry handling cash, etc.
They’re trying to muscle in on the small sellers who can’t afford the fees or complexity of the Big Credit Providers. Good luck to them - pity it’s another “US Only” invention.
Anyone want to buy a used couch?