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Tag: payment

  • Twitter Tips Big Ecommerce Move

    Twitter Tips Big Ecommerce Move

    Rumor has it, Twitter is planning a big move into the realm of ecommerce – and this is a pretty big hint that the company is headed in that direction.

    A handful of users spotted something interesting in their mobile settings today – a ‘Payment & Shipping’ tab buried betwixt other security preferences. When tapped, it doesn’t do anything…yet. Check it out:

    Last month, users spotted a ‘Buy Now’ button inside tweets, apparently coming from shopping app Fancy. Of course, having the ability to buy stuff by simply tapping a button inside a tweet would be huge for mobile shopping. Like Facebook’s own recently announced Buy Button, the little temptations could appear inside promoted posts and give advertisers a huge incentive to promote their goods and services on Twitter.

    Twitter has also made some relevant acquisitions as of late, fanning the rumor flames even further.

  • Amazon May Be Readying Its Own Card Reader

    Is Amazon preparing to unveil a Square competitor?

    According to reportedly leaked documents from office supplies retailer Staples, Amazon is about to put a card reader on the market. The documents reference an “Amazon Card Reader” alongside other established players like PayPal, Square, and Staples’ own mobile payments reader.

    According to 9to5Mac, the product is being listed at $9.99.

    Though unconfirmed by Amazon, it’s clear that Staples thinks they’re about to put a new brand of card reader on its shelves.

    A launch of a new card reader would come on the heels of Amazon’s new Wallet app, which it launched on Android and its new Fire phone just last week.

    The internal documents suggest that Staples is advising its stores to wait until August 12th to advertise the new product. Could be see an announcement from Amazon between now and then? It could take the attention away from Amazon’s new Fire Phone, which hasn’t exactly received the best welcome.

    Image via Amazon, Google Play Store

  • Hey Small Businesses – Square Stand Is Only $99

    This is a public service announcement for small business owners out there – Square had drastically reduced the price for their point of sale system, Square Stand. Starting today, you can purchase the all-in-one POS for just $99.

    When Square first launched Square Stand back in May, it was $299.

    Square Stand lets you attach your iPad to an adjustable stand, complete with an attached card reader. This replaces the old method of attaching the smaller Square Reader to your iPad. The Stand can be secured to your countertop, and when it is all said and done it becomes a more secure, permanent, and faster POS system for your business – at least according to Square.

    “Local business owners take as a given that they need an ugly, slow, expensive, and complicated point of sale system cluttering their counter,” says Jack Dorsey, co-founder and CEO of Square. “Square Stand is elegant, fast, affordable, and easy to use. Whether you’re selling cupcakes, cardigans, or cappuccinos, running your business with Square has never been easier.”

    One of the top comments on Square’s video for Square Stand is simply “It’s too much,” and $299 was a pretty hefty price to pay when the company first launched the POS system. But for just $99, I’m sure there are plenty of small businesses who will find room in their budgets for and easier, more permanent way to process payments.

    In other Square news, the company just unveiled a brand new card reader that’s thinner and is able to process swipes with better consistency.

    Image via Square, Twitter

  • Square Hit with Cease and Desist Order in Illinois

    Mobile payments startup Square has apparently run afoul of the Illinois Department of Financial & Professional Regulation.

    In a cease and desist order sent to Square, the Illinois department says that Square is “engaged in the business of transmitting money in Illinois, as defined by the Act, without the required license.”

    The “act” that they refer to is the state’s “Transmitters of Money Act,” which says that:

    No person may engage in this State in the business of selling or issuing payment instruments, transmitting money, or exchanging, for compensation, payment instruments or money of the United States government or a foreign government to or from money of another government without first obtaining a license under this Act.

    The act clarifies that transmitting money means “the transmission of money by any means, including transmissions to or from locations within the United States or to and from locations outside of the United States by payment instrument, facsimile or electronic transfer, or otherwise, and includes bill payment services.”

    Square has responded, saying,

    “We’ve been in close contact with the Illinois Division of Financial Institutions for several months and are addressing their concerns.”

    Far from an expert in legal affairs, I won’t attempt to make any additional comments about the order other than the fact that it looks like Square simply needs to obtain a license.

    [TechCrunch]

  • New York Times Releases Details Of Online Payment Model

    After a long debate, the New York Times has officially settled on an online pay model and and implementation timeline. The meter system will be introduced at the beginning of next year.

    The model will allow users to access a certain number of articles free each month. After the set viewing threshold, users will be required to pay. Print subscribers will have free access online. Says the Times:

    This will enable NYTimes.com to create a second revenue stream and preserve its robust advertising business. It will also provide the necessary flexibility to keep an appropriate ratio between free and paid content and stay connected to a search-driven Web.

    Arthur Sulzberger, Jr., chairman and publisher of the New York Times, said, “Our audiences are very loyal and we believe that our readers will pay for our award-winning digital content and services.” According to Nielsen Online, the Times is the #1 newspaper site in the world, so they may just have enough support to do this.

    Romenesko also has posted a memo to the Times staff on the upcoming change (via). In the memo, Sulzberger acknowledges that this move will be lauded by some and criticized by others, just as the management debated it. Ultimately, he says, this move will be judged by its implementation, which is why they’re giving themselves so long to run up to the process. In the meantime, they will also work on improving the site, its users’ experience and its stickiness.

    Sulzberger explains their reasoning behind this pay model choice, echoing some of the press release wording:

    We also selected the metered model because it offers a number of important virtues from a financial and growth perspective. It allows NYTimes.com to remain a vibrant part of the search-driven Web, which has proven to be an integral reason for why we have become an industry leader in display advertising. This flexibility enables us to create a proper ratio between free and paid content and to aggressively build on our very successful digital advertising business.

    He also says the Times will not join a consortium.

    I’m glad they’ll keep some of their content free—I’m hoping that such features as their blogs will remain free without counting toward the article limit. The Times is a valuable, venerated resource.

    But personally, I won’t be paying for a subscription, or using the site enough to incur use fees the vast majority of the time. Will you?

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