Visa invests in Square iPhone credit card reader

By on Apr 27, 2011 at 11:46 PM
mobile April 27, 2011

Visa has made an undisclosed investment in payments startup Square in exchange for a seat on the firm’s board of, Reuters reports. Square is a portable credit card reader that was created by Twitter co-founder Jack Dorsey. It allows iPhone, iPod touch, or iPad owners to charge for goods and services on-the-go, but came under some scrutiny earlier this year when VeriFone’s CEO slammed the product in a blog post. On April 21st, Apple and Square announced that the Square credit card reader was available online and in Apple Stores nationwide for just $9.95. 

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  • Duh

    Why only mention Apple products when Android is also supported?

    • Anonymous

      Because they BGR gets kick backs from Apple duh. Haven’t you notice that BGR (post-acquistion) only reports on certain things when others are blatantly out there and you would think they would report on it.

      On topic, I’m glad I signed up a long time ago for the Square testing. I got two squares for free! :)

    • http://twitter.com/MrKow84 Kyle

      it was initially only made for Apple products… But I agree most android phones are supported also

  • android rukez

    Yes…it works great on android as well. Supposedly coming to.rim also.

  • KenG

    That’s discouraging. I don’t trust any entity that is tied to the big banks at all. Square is one of the best hopes for weakening the banks’ virtual monopoly on credit card processing, and this gives Visa a view into their operations, and potentially the inside track at acquiring and ruining Square.

    • http://twitter.com/DoubleONegative Nerdherder

      I agree. Hopefully Jack Dorsey is as smart as we all believe, If so I’m sure he knows what he’s doing.

  • NewPunk

    I’m curious to see how Square will deal with credit card fraud. Will businesses suffer charge backs due to fraud or will the big credit card companies eat those fraud costs? Imagine a small or shady business using these readers to purposely swipe fraud credit card to launder money… Just saying, I’m wondering how that will affect Square.

  • Mitchellmike

    new southpark episode about the humancentipad is on the mark….sure this stupid site will give apple the reach around like it always does…suck it iBGR

    • Anonymous

      Go watch another cartoon stup.

  • http://webhostingreview.info/windows-hosting/ windows hosting reviews

    i think this should support android also why only apple

    • http://twitter.com/DoubleONegative Nerdherder

      Square is also available for Android

  • http://twitter.com/zervin ZErvin

    Yes, this is the reason people really scream and call out websites. The title is flat out misleading and shoudl be changed. I have been using Square for Android for longer than alot of people have for iPhone lol. Square isnt an “iPhone Credit Card Reader” thats just bad journalism. Square is a mobile credit car charging platform. Get it right.

    • http://twitter.com/zervin ZErvin

      You know its actually double ignorant, as the article itself clearly states…

      “Square’s service employs a miniature magnetic card-reader that plugs into a device, such as an iPhone or Google Android phone.”

      but gets translated to “Visa invests in Square iPhone credit card reader” for the Apple loving blogs…

    • Anonymous

      Square was demonstrated on the iPhone before android phones came out. But keep telling yourself what you will.

  • madiha malik

    i suppose this should concord robot also why only apple

  • Anonymous

    Why do we need to add this CC reader. Companies should be moving towards NFC. I hope the next iPhone comes with a NFC chip. Not because I want an iPhone, but I want the NFC chip to be standard in phones, so the marketplace will start widespread adoption.

  • http://profiles.google.com/cwosigns Chris Owens

    board of…? don’t leave us hanging.

  • http://profiles.google.com/visaexpress.net visa express

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  • rocky randly

    This is frustrating. I do not believe is linked to large banks in all entities. Square is to weaken the bank’s near-monopoly on the credit card processing best hope, one of which gives a visa, their view of their business, and might have access to the track and destroy Plaza.

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