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I get the feeling that what Square is doing now is just a glimpse of their greater plan. They have a proven ability to execute and release polished products th

I get the feeling that what Square is doing now is just a glimpse of their greater plan. They have a proven ability to execute and release polished products that are enjoyable to use. Nearly everyone I every need to pay is on Square Cash (and those who aren't soon are, the barrier to signup is very low) and the app is just a pleasure to use compared to the competition. It's second nature at this point.

fossuser 12y ago
Most people I know are on Venmo - is square cash better?
- idunno246 12y ago
  venmo feels like its trying to be a facebook app, broadcasting payments, etc. I want the app im using to send money and nothing else - cc square from a normal email is so much less intrusive.
- chambo622 12y ago
  I prefer it a lot more. Maybe it's just my circle of friends, but we laugh at how stupid Venmo's Facebook spam is and generally prefer how easy Square Cash is to use. Since the money ends up right back on your debit card, it's a lot easier than maintaining a Venmo balance and having to deal with that. I signed up for Venmo a while back to try their API at a hackathon. They then decided to freeze my account and send me a barrage of questioning. I didn't bother.
  - sytelus 12y ago
    So why not just use PayPal? I've paid people through PayPal on the spot and many small businesses seems to access it.
    - manacit 12y ago
      Square cash has absolutely zero friction - you can download the app on your phone and be sending payments to other people in a matter of minutes, without needing to know anything other than their phone number. On top of that, Square Cash is instant - there's no paypal balance to deal with, it doesn't take 2-3 business days for the ACH deposit into your bank. When I square cash my friend $50, it's in his account and out of mine before our conversation is over.
saiko-chriskun 12y ago
Square will also be releasing an update to cash with invoicing, reporting, etc. Can't wait :)
- ahsanup 12y ago
  Big potential in the added services Square will provide to SMEs. On top of reporting, I think they've already floated the idea of feedback through digital receipts. I'd definitely imagine that improved customer feedback mechanisms would impact SMEs in a positive way.
idlewords 12y ago
You have to hope there's a greater plan, because the one right now is "somehow contrive to lose piles of money at being a financial intermediary".
- subdane 12y ago
  Square Cash, Square Capital, Square Market, Square Stand, Square Register, Square Reader. Add the recent Caviar acquisition to the spaghetti on the wall.
  - minimaxir 12y ago
    None of those solve the "somehow contrive to lose piles of money at being a financial intermediary" problem.
    - rstupek 12y ago
      In fact piling on more products that lose money accelerates that plan!
- ahsanup 12y ago
  The goal could still be to get as many Square POS systems onto the market so that a competitor (ie. Amazon) can't just waltz in and start expanding aggressively.
  - toomuchtodo 12y ago
    Amazon, Google, etc. can afford to give away POS systems for longer than Square can stay solvent.
    - cyan_atrus 12y ago
      Square's POS is also free
      - 12y ago
yalogin 12y ago
Are any of its businesses outside of the POS system successful? Where is it losing all the money? Don't compare it to the competition. I live outside SF and have never run into any square POS till now and don't know anyone that uses square.
- idunno246 12y ago
  is POS even successful? Seems like half the places that used to have it have switched to other companies.
abalone 12y ago
Cold water: Square Wallet was a big dud, as was the Starbucks partnership. That was their "greater plan" at one point. Square Cash is easy to use.. but operates at a structural loss of over 20 cents per transaction. There's plenty of issues when you look past the surface, particularly with the business model. They have not yet delivered a polished product that's enjoyable to use and makes lots of money.
- potatolicious 12y ago
  Agree. Not to mention Square doesn't exactly have a monopoly on "making useful things that users love", not by a long shot. If "proven ability to execute and release polished products that are enjoyable to use" is the bar for a high valuation and optimistic projections, we should maybe start throwing gobs of money at a lot of design firms and app consultancies.
- swartkrans 12y ago
  It's too bad about Square Wallet, I really liked that product, I don't know why it didn't take.
  - abalone 12y ago
    What did you like about it? I forced myself to use it a bunch but in the end felt it didn't save me any time over swiping and signing. By the time you unlock your phone, open the app, wait for it to locate you, check in, say "hey i'm paying with square my name is x", wait for the cashier to scroll down and find you (sometimes you take a few seconds to show up), and wait for them to tell you you're good to go... it's really at best neck-and-neck with swiping and signing. At worst, slower and more awkward. Auto check-in was super unreliable. Apple Pay on the other hand is going to be a significantly faster way to pay (no signing/PINs) and also vastly more secure (no real card numbers!). Two real concrete benefits.
    - swartkrans 12y ago
      > What did you like about it? An easy way to see everything I've ever spent at a place. Not having to share credit card details. You can pay just by walking into the place and saying your name, you didn't have to have to pull your wallet out at all.

fossuser 12y ago

Most people I know are on Venmo - is square cash better?

idunno246 12y ago
venmo feels like its trying to be a facebook app, broadcasting payments, etc. I want the app im using to send money and nothing else - cc square from a normal email is so much less intrusive.
chambo622 12y ago
I prefer it a lot more. Maybe it's just my circle of friends, but we laugh at how stupid Venmo's Facebook spam is and generally prefer how easy Square Cash is to use. Since the money ends up right back on your debit card, it's a lot easier than maintaining a Venmo balance and having to deal with that. I signed up for Venmo a while back to try their API at a hackathon. They then decided to freeze my account and send me a barrage of questioning. I didn't bother.
- sytelus 12y ago
  So why not just use PayPal? I've paid people through PayPal on the spot and many small businesses seems to access it.
  - manacit 12y ago
    Square cash has absolutely zero friction - you can download the app on your phone and be sending payments to other people in a matter of minutes, without needing to know anything other than their phone number. On top of that, Square Cash is instant - there's no paypal balance to deal with, it doesn't take 2-3 business days for the ACH deposit into your bank. When I square cash my friend $50, it's in his account and out of mine before our conversation is over.

saiko-chriskun 12y ago

Square will also be releasing an update to cash with invoicing, reporting, etc. Can't wait :)

ahsanup 12y ago
Big potential in the added services Square will provide to SMEs. On top of reporting, I think they've already floated the idea of feedback through digital receipts. I'd definitely imagine that improved customer feedback mechanisms would impact SMEs in a positive way.

idlewords 12y ago

You have to hope there's a greater plan, because the one right now is "somehow contrive to lose piles of money at being a financial intermediary".

subdane 12y ago
Square Cash, Square Capital, Square Market, Square Stand, Square Register, Square Reader. Add the recent Caviar acquisition to the spaghetti on the wall.
- minimaxir 12y ago
  None of those solve the "somehow contrive to lose piles of money at being a financial intermediary" problem.
  - rstupek 12y ago
    In fact piling on more products that lose money accelerates that plan!
ahsanup 12y ago
The goal could still be to get as many Square POS systems onto the market so that a competitor (ie. Amazon) can't just waltz in and start expanding aggressively.
- toomuchtodo 12y ago
  Amazon, Google, etc. can afford to give away POS systems for longer than Square can stay solvent.
  - cyan_atrus 12y ago
    Square's POS is also free
    - 12y ago

yalogin 12y ago

Are any of its businesses outside of the POS system successful? Where is it losing all the money? Don't compare it to the competition. I live outside SF and have never run into any square POS till now and don't know anyone that uses square.

idunno246 12y ago
is POS even successful? Seems like half the places that used to have it have switched to other companies.

abalone 12y ago

Cold water: Square Wallet was a big dud, as was the Starbucks partnership. That was their "greater plan" at one point. Square Cash is easy to use.. but operates at a structural loss of over 20 cents per transaction. There's plenty of issues when you look past the surface, particularly with the business model. They have not yet delivered a polished product that's enjoyable to use and makes lots of money.

potatolicious 12y ago
Agree. Not to mention Square doesn't exactly have a monopoly on "making useful things that users love", not by a long shot. If "proven ability to execute and release polished products that are enjoyable to use" is the bar for a high valuation and optimistic projections, we should maybe start throwing gobs of money at a lot of design firms and app consultancies.
swartkrans 12y ago
It's too bad about Square Wallet, I really liked that product, I don't know why it didn't take.
- abalone 12y ago
  What did you like about it? I forced myself to use it a bunch but in the end felt it didn't save me any time over swiping and signing. By the time you unlock your phone, open the app, wait for it to locate you, check in, say "hey i'm paying with square my name is x", wait for the cashier to scroll down and find you (sometimes you take a few seconds to show up), and wait for them to tell you you're good to go... it's really at best neck-and-neck with swiping and signing. At worst, slower and more awkward. Auto check-in was super unreliable. Apple Pay on the other hand is going to be a significantly faster way to pay (no signing/PINs) and also vastly more secure (no real card numbers!). Two real concrete benefits.
  - swartkrans 12y ago
    > What did you like about it? An easy way to see everything I've ever spent at a place. Not having to share credit card details. You can pay just by walking into the place and saying your name, you didn't have to have to pull your wallet out at all.