Payments Industry
Search Posts
Latest Posts
Bookmark and Share

Monday, January 30, 2012
Square.....very exciting, growing fast and it is amazing how this company has been able to move the associations from their traditional position on certain merchant verticals.  I know it looks great and the idea of going after the consumer with a payment product makes good of sense.  However, I am not on the band wagon.  Research the numbers and it will quickly become apparent that the Square Portfolio is very low volume and their merchant base while growing, is a micro merchant base.  I also believe that high risk merchants will be attracted to the offering.....

That's only common sense and the first thing any payments professional would see.  In addition, I think that the companies like Square need to review the access point of the swipe device they attach and make it clear what the security level is.  I believe that the transaction data is vulnerable to being stored on the phone in a way that will make it accessible to the wrong party.
Bookmark and Share