Square is picking up steam. This week, Twitter co-founder and CEO of
Square Inc. Jack Dorsey announced it had 500,000 Square card readers
shipped and roughly one million transactions processed in May.Complete
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disc. Not only that, Square is processing $3 million in mobile payments
each day from Android and iOS devices. Add an undisclosed investment
from Visa last month, and Square's COO Keith Rabois might just be
right: There could very well be a 95% chance that Square will do better
than PayPal.
Good thing it didn't go with its original name.
Speaking
at a conference in San Francisco where he also received the 21st
Century Visionary Award, Dorsey dropped a few tidbits on how Square
came to be. Among them, its original name was Squirrel and the shape of
the dongle was not a simple cube, but an acorn. It wasn't until a
lunch at Apple where the name and design was changed.
According to the story,Choose from one of the major categories of Bedding,
Dorsey was lunching with Apple's SVP of iPhone Software Scott Forstall
in 2009. And right there, in the Apple cafeteria, they saw a
point-of-sale system made by Squirrel Systems. Obviously, there would
have been a potential overlap and thus Square was born.
Still, despite the new name,Full color plastic card printing and manufacturing services.What to consider before you buy oil painting supplies. it would have been interesting to see how many users would have trusted to swipe their credit card through a plastic acorn.
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