Apple Pay is threatening to put mobile payments companies like Square and PayPal out of business when it launches next month, but according to Square co-founder Jack Dorsey, Apple Pay isn’t actually a threat to his company.
Dorsey revealed yesterday that Square is hoping to use Apple Pay to its advantage by building a new register for sellers that accepts Apple Pay and pretty much every other form of payment you can slide across a counter.
As the CEO of Square, and co-founder of Twitter, Jack Dorsey has quickly become one of Silicon Valley’s most admired CEOs. His Square payment system is quickly changing the way consumers buy things, and it’s making businesses and consumers interact on a more personal level.
Square’s goal is to make payments quicker and easier for both business and consumers, so the company has an intense interest in wearable tech. When asked in a recent interview whether he thinks Google Glass is an interesting product, Dorsey answered that he doesn’t see much value in Google Glass right now, but he’s intrigued by devices that wrap around the wrist – like Apple’s rumored iWatch – because they feel more natural.
When asked whether he’s looked into Google Glass, Dorsey had the following to say:
Check this out: at a recent Twitter Town Hall hosted at the White House alongside Twitter co-founder Jack Dorsey, President Barack Obama sent his first live Tweet… and did so on his MacBook Pro, modded with a conspicuous presidential seal over the iconic Apple logo.
With the iPhone unlikely to get NFC capabilities this year according to reports, waving your iPhone in front of a cash register to pay for your morning coffee will have to wait until 2012 at the earliest. Or will it?
Square has just unveiled their next-generation mobile platform, Square Card Case, and it’s not just an interesting precursor to the promise of NFC, but NFC’s first truly viable alternative in the mobile payments arena… at least when it comes to local merchants.