SquareStart accepting credit cards today.

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"I keep a credit card in my back pocket, and I don’t have to carry cash around,"

Louise Collis, 44.

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Square

✤ Founded in 2009 by Jack Dorsey & Jim Mckelvey

✤ Reader & App introduced in 2010

✤ 2011: 1,000,000 users

✤ 2012: Starbucks Partnership & 2,000,000 users

✤ 2013: 3,000,000 users & processes $1.25 billion a month.

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Benefits

✤ Accept payments anywhere.

✤ Charges 2.75% per swiped transaction. 3.5%+15 cents per keyed in transactions.

✤ Works on Apple IOS devices (iPhone/iPod Touch) & Android (Galaxy, Droid) devices.

✤

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Let’s compare

POS System Requires:Purchase HardwarePurchase SoftwareMerchant Account

Annoying & DifficultComplicated Fees

Updates Cost

vsSquare Requires

iOS/Android DeviceFree App.

Free Updates

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Standalone Reader

+

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Terminal System

+

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Now for the Psychological Side

✤ Buying Tickets. How much would you spend? CC vs Cash?

✤ Giving cash vs agreeing to pay it later.

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Bank Of Canada Says

✤ Average cash transaction is $18.

✤ Average debit card transaction is $44

✤ Average credit card transaction is over $100.

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Cash or Credit?

✤ McDonalds introduced credit cards. Result: average purchase went from $4.50 to $7.

✤ Credit Card users tend to purchase things they want vs cash carriers will spend when they can.

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Introducing Meaghan

Meaghan is Manager of Lens Make A Picture.

She classify’s herself as a beginner computer level.

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The Future

Near Field Communications - NFC Technology

Virtual Wallets

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