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Watching the video it took me a while to work out what was 'wrong' with the system: it works with cards you swipe, and there's no PIN entry, something I haven't
by 1tw 16y ago
Watching the video it took me a while to work out what was 'wrong' with the system: it works with cards you swipe, and there's no PIN entry, something I haven't seen in five years (and won't work with any card issued by my banks).
Of course, the US is a big enough market to support a product like this, but it still seems odd to launch something that ignores the current standard in hundreds of other countries, EMV. Not to mention the increasingly popular contactless payment systems.
- JangoSteve 16y agoUsually debit cards require PIN entry and credit cards require signatures. Even most debit cards can be used as credit cards without requiring PIN entry. That is one of the reasons the risk is higher for credit cards. And to that end, Square's screenshot has a line where the customer signs their name.
- 1tw 16y agoIn the US, perhaps. Chip and PIN is the standard for new credit and debit cards in the UK - swipe and sign isn't quite obsolete, but it's certainly on the way out. This can be a big inconvenience for travellers from the US to the UK (having worked in a theatre box office at the Edinburgh festival, I can testify to this). If Square takes off in a big way in the US - I imagine it will - it'll be similarly inconvenient to visitors from the UK, Europe and elsewhere.
- JangoSteve 16y agoSquare is meant to be an entry-level credit-card terminal, meaning it's targeted toward businesses that previously did not accept credit or debit cards of any kind. It's misleading to say that Square causes an inconvenience for foreign travellers, since the businesses using it previously did not accept any kind of plastic payment whatsoever. It only adds convenience, though not as much convenience as foreign travellers may desire.