Silicon Valley News

Thursday, September 30, 2010

Square's mobile phone payment service prepares for launch



Square, a San Francisco startup headed by Twitter co-founder Jack Dorsey, is preparing to rollout a device that plugs into a smartphone  and allows users to process payments.  The ground-breaking scanning device is currently being mass produced and used in a private beta.

Square's new  payment service will face competition from a new mobile phone scanning unit being developed by Intuit. Apple is also rumored to be planning a competing product.

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