This article is misleading in that it depicts Square as being cheaper than most merchant accounts. If you sell one cupcake a month then I suppose it is, but for

This article is misleading in that it depicts Square as being cheaper than most merchant accounts. If you sell one cupcake a month then I suppose it is, but for most merchants Square isn't even an option. It's far more expensive and there are other limitations that reporters tend to gloss over. (See http://www.quora.com/Aaron-Greenspan/Of-Round-Pegs-and-Squares-Holes http://www.quora.com/Aaron-Greenspan/Of-Round-Pegs-and-Squar... .) Credit card companies are scared of change because change could easily put them out of business. They're protected, not by a good product or world-class service, but by lobbyists and other artificial barriers to entry. (See http://www.quora.com/Aaron-Greenspan/Held-Hostage-How-the-Banking-Sector-Has-Distorted-Financial-Regulation-and-Destroyed-Technological-Progress http://www.quora.com/Aaron-Greenspan/Held-Hostage-How-the-Ba... .) Once those are overcome, it's just a matter of time before cards are thought of just like casette tapes.