I want to update you guys about new technologies and services for brick n’ mortar merchants. Twitter creator, Jack Dorsey new project “Square” changes up how restaurants or any store can process credit card payments. I was a little unsure what this service was until watching the video below:
Simply every participating vendor gets a mobile device, right now the iphone/itouch with a credit card reader attached to it. The customers instead of having to accept a receipt he/she can ask for it to be email to them. (great for the vendor, to be collecting emails so later they can send monthly promotions to those customers.) At the same time, its counting the amount of times the customer comes to your store, so you can easily give deals to returning customers.
Hopefully the venture works out because it looks like a promising idea, and it obviously got the right people backing it,even before its official launch they are valuing the business at $40 million.
It yourself updated via TechCrunch
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