On Tuesday this week Square started passing out invitations to the companies first special event. The event will take place at Square’s headquarters in San Francisco on May 23rd at 10:00 AM PDT. Some “exciting news” will be announced.
There isn’t much to go on about what might be happening at the event. The only clue that Square is providing is to “see what’s in the cards. ” According to TechCrunch, company creator Jack Dorsey would only tell them that the deal was “a big one. ”
It’s no secret that the mobile payment company has landed a few major deals in the last month or so. Deals that included a major investment in the company by Visa and the announcement about a new encrypted reader which would eliminate concerns about security on the readers themselves.
The company is proving to be quite popular having passed a milestone in processing by reaching $2 million payments per day.
One element of Squares growth has flown under the radar and it hasn’t seen much coverage in the press. Apple Stores, both online and retail, now carry the diminutive Square credit card readers in both black and white. Perfectly matching your iPhone 4 or iPad 2. They cost approximately $10 each and you receive a $10 credit from Square for at least one of the devices you purchase – since you can currently get your first reader from them directly for free.
Could Apple be partnering with Square on something significant to Apple’s retail business or their mutual customers businesses? The announcement happens to coincide with Apple’s rumored to be huge 10th retail anniversary during the week-end of May 20th.