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Square is killing it - now processing $10B in annual payments; added $2B over the past month - http://tcrn.ch/QGPs7l
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Donny Nyamweya's profile photoMichael Payton's profile photoDean Montague's profile photoJimTom Rizbiz's profile photo
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Can anyone answer... when you makle a payment with square Does it show the merchant you paid on your statement, or does it show Square?
 
Until they get hacked by someone in Georgia or the Ukraine and all those accounts get compromised.
 
+Jason Stewart I've made one Square purchase, and the email receipt showed Square rather than the merchant. But I don't recall what my credit card statement said. 
 
+Ariella Brown That's been a major stopping point for me on some of the other payment systems... I use Mint, and if the statements all show "Square" it doesn't categorize them properly, so it's pretty much useless to me.
 
What about when they will be able to get rid of all these dongles and simply use the camera or NFC to process your purchases through a pseudo-bank like Google payments?
 
The payment to these companies offering these types of devices and services is stupid high. I dont understand why people pay more money just to swipe the card when you could just do a free wire transfer or type the number into a separate service outfit.

It seems like there would be a huge personal liability for the business and customers. Bugs on the phones storing or transferring personal data would be a problem and a concern if I was asked to run my card on a stranger's personal phone.
 
+Jimbo Rizza My assumption is that the encoding on a credit card is/should be self-secured. That way reading the magnetic code without having another part of the puzzle (validation that it is secure - a la public/private login keys) to eliminate the risk of using funny phones.
But then again there have been several stories of people scanning and duplicating cards easily... so I must be over-estimating card security features.

Personally, will start using Google payments as soon as enough vendors accept it (without NFC). Since individuals mostly have no liability for hijacked cards (beyond $50), anyway, should you be worrying about the network security of your coffee shop? I though PCI compliance does that...
 
Wow! nice!
And nice profile pic Jimbo Rizza 
the dog is so cute! 
^_^
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