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I wonder if Jack's new company will see a similar stagnation. Square is getting beat by Clover while the CEO is focused on blockchain.

zht 5y ago
in what way is square being beat by clover? was square in some way doing better than cover at one point and is no longer doing so?
- cheriot 5y ago
  That's my understanding, yes. Square was first but now Clover is signing up more merchants.
murat124 5y ago
Not related to said beating but I opened https://www.clover.com https://www.clover.com and umatrix icon showed the number 258. This many requests to 3rd party resources at start usually mean there is too much tracking. A good reason to just close the tab. By the way, Square had only 2.
qwertyuiop_ 5y ago
The nail in the coffin you are looking for … https://www.apple.com/newsroom/2022/02/apple-unveils-contactless-payments-via-tap-to-pay-on-iphone/ https://www.apple.com/newsroom/2022/02/apple-unveils-contact...
Androider 5y ago
Apple and Stripe are also set to commoditize the small business Point of Sale that is Square's bread and butter. iPhones were just announced to soon accept contactless payments directly, and probably also the next iPad will include the required NFC hardware.
- cheriot 5y ago
  The hardware is less important than the merchant account. The risk of charge backs means a small business accepting a credit card is effectively taking out a loan. Apple isn't going into that part of the value chain (so far).
  - Androider 5y ago
    Right, Apple is only providing the hardware and it requires to use a (partnered) processor, like Stripe, which was the example they used in their recent announcement. Stripe coincidentally sells chargeback protection as a service https://stripe.com/radar/chargeback-protection https://stripe.com/radar/chargeback-protection if that is a concern.
    - cheriot 5y ago
      Exactly, afaict this feature's impact on Square is that online payment processors like Stripe have an easier path to competing for in person sales.

zht 5y ago

in what way is square being beat by clover? was square in some way doing better than cover at one point and is no longer doing so?

cheriot 5y ago
That's my understanding, yes. Square was first but now Clover is signing up more merchants.

murat124 5y ago

Not related to said beating but I opened https://www.clover.com https://www.clover.com and umatrix icon showed the number 258. This many requests to 3rd party resources at start usually mean there is too much tracking. A good reason to just close the tab. By the way, Square had only 2.

qwertyuiop_ 5y ago

The nail in the coffin you are looking for … https://www.apple.com/newsroom/2022/02/apple-unveils-contactless-payments-via-tap-to-pay-on-iphone/ https://www.apple.com/newsroom/2022/02/apple-unveils-contact...

Androider 5y ago

Apple and Stripe are also set to commoditize the small business Point of Sale that is Square's bread and butter. iPhones were just announced to soon accept contactless payments directly, and probably also the next iPad will include the required NFC hardware.

cheriot 5y ago
The hardware is less important than the merchant account. The risk of charge backs means a small business accepting a credit card is effectively taking out a loan. Apple isn't going into that part of the value chain (so far).
- Androider 5y ago
  Right, Apple is only providing the hardware and it requires to use a (partnered) processor, like Stripe, which was the example they used in their recent announcement. Stripe coincidentally sells chargeback protection as a service https://stripe.com/radar/chargeback-protection https://stripe.com/radar/chargeback-protection if that is a concern.
  - cheriot 5y ago
    Exactly, afaict this feature's impact on Square is that online payment processors like Stripe have an easier path to competing for in person sales.