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Why are these "card-reader devices" considered revolutionary? They have a miniscule profit margin, and the ones who really benefit are VISA, AMEX and other car
by ignifero 16y ago
Why are these "card-reader devices" considered revolutionary? They have a miniscule profit margin, and the ones who really benefit are VISA, AMEX and other card issuers. I don't see what's the disruption here, unless they plan to supersede banks and card issuers. Holding my breath for NFC.
- senex 16y agoI bought a burger from a mobile restaurant (large truck) the other day. They swiped my card through a Square reader. I appreciated not having to find an ATM. I'll eat there again next time it shows up near my office since the experience was so convenient (and the food was great :)
- Turing_Machine 16y agoExactly. Another example: I know a mechanic who does small jobs for his friends on the side. He just signed up for Square because that will let him take credit cards on the spot (customer's house, roadside, wherever). He was using PayPal for this before -- not nearly as convenient for a mobile businessperson. So... is it a game-changer in the sense of radically transforming the economy? Probably not, but this type of service is still a significant boon for small businesspeople like my friend.