Square was one of the first companies to make mobile credit card payment processing simple and easy for small business owners via its credit card readers and complimentary mobile app. If you’re not familiar with Square, it’s a free device that turns your tablet computer or smartphone into a point-of-sale (POS) device. Just plug in the small, square reader into the headphone jack of your iPhone, iPad, Android phone or tablet and you’re taking credit card transactions at the low, flat fee of 2.75% per transaction.
Today, the Square team is making it easier for small businesses to accept payments via a mobile wallet that customers use to start a tab, receive their goods and pay without ever touching a credit card or wallet.
Card Case is a new venture by Square that essentially puts a mobile wallet on a consumer’s iPhone or Android smartphone that they can use at any Square-enabled business. Users can store credit card information for each business they frequent. Upon entering the business, users can enter their name, select their virtual card from the Card Case app, order their stuff, and Card Case takes care of the rest.
In addition to the mobile wallet app, Card Case also doubles as a directory that will help users find “Squared up” businesses and help small biz owners reach a larger, more technology-aware customer base. Once businesses and customers find each other, Card Case can also provide customers with a product list, food/product menu, or deals/promotions the business might be offering.
Finally, with Square functionality built into Card Case, receipts are automatically sent to the customer per the email address they added to Card Case. This means businesses that use Card Case can stop fumbling around with those receipt rolls in that POS device that always seem to get jammed at the height of “rush hour” business traffic.
Like it? Love it? Hate it? The fact of the matter is that the future of financial transactions my look something like the Card Case service that Square has devised. It’s only a matter of time before Card Case, NFC technology, and QR Codes make your smartphone the most important tool in your everyday life.