Square up

A presentation describing how to use the new mobile application, Square.

1. Are you Squared Up?

2. Created by Jack Dorsey No need for cash Great for small businesses No special bank account required Paper isn’t needed Things become easier to sell

3. Background of Square “Square is the child of two trends, one technological and the other social: the proliferation of networked mobile computing devices and the decline of cash in favor of payment cards.” -Jason Pontin, Technology Review

4. Background of Square Engineered in 2009 by Jack Dorsey and Jim McKelvey . After official launch in October 2010: 100,000 activated accounts from October-December 65,000 activated accounts in January Goal: To process $1 billion transactions in 2011 (currently processing $2-10 million per week) Square Up

5. How do you Use Square Up? Works with Apple iOS and Google Android platforms (ex. iPhone, iTouch, Droid) Currently working on Blackberry versions Works with headphone jack on phone Signing up for Square is easy: (Name, Social Security Number, Address) Download application from the Apple App Store or Android Market Wait for device to come in mail It replaces expensive credit card terminals.

6. How do you Use Square Up? The actual square device is free, but there is a 2.75%  fee for swiped transactions and a 3.5% + 15¢  for keyed-in transactions. After swiping a credit card, users will have to sign using the touch screen on the mobile phone. Users can chose whether to enter an email address after they have made a purchase to receive an electronic receipt instantly to their email. Square does not collect or share any card holders information to ensure customers privacy.

7. How do you Use Square Up? Square accepts all major credit cards - Visa, MasterCard -American Express -Discover There is no limit to the amount of money that can be accepted on Square. Square is only available in the United States, as of right now. Here’s a video about Square and it’s potential for small businesses: SquareUp

8. Case Study Original squares were unsatisfactory to users Took multiple swipes $100 cap to help prevent fraud Weren’t dependable Since then, Square has improved issues by Larger card reader Removed cap Improved apps ability to process the signal

9. Case Study Co-president of the Crocker Highlands Elementary PTA started Square on iPhone to raise money for the organization. In a little over a month-$4500 Would have only been able to raise $1000 without Square. “It was an easy way to force people to pay on the spot,” says Westmoreland. Practitioner who makes house calls in the Bay Area: His work in completely mobile, switched to Square. Fits into his medical bag Easy for his medical staff to learn.

10. Case Study A cupcake store in San Francisco: Can avoid a costly cash register Provides detailed metrics on sales (how many Red Velvet cupcakes sold in a day) San Franola , a local granola company selling at farmers markets: Saw revenue go up by 20% Zappos : Using Square in-house for sample sales of extra inventory and proceeds go to charity Used to raise money for LiveStrong at a recent golf tournament

11. What’s Next? Product is still so new, it is difficult to predict future but… Possibilities Include: New designs Could be used by major retailers Safety updates

12. What’s Next? (Security/Safety) Concerns: Crime Drugs, Prostitution, etc. Alcohol Credit card theft Fraud

13. What’s Next?

14. Square up is. . . Easy Convenient Safe Continuing to improve

15. Questions

16. Sources http://www.speakingdigital.com/2011/01/15/squaring-up/ https://squareup.com/ http://twitter.com/#!/SqSupport http://www.technologyreview.com/computing/32360/ http://www.technologyreview.com/computing/24068/?mod=related