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.
Apple put mobile wallet payment platforms like Google Wallet, Square and PayPal on notice this week with the reveal of Pay, but before Cupertino decided to launch its answer to the wallet, sources tell TechCrunch the company was eyeing an acquisition of Square.
Square’s simplistic payments platform seems like it would have been the perfect fit for Apple and would have added “Next Steve Jobs Nominee” Jack Dorsey to its loaded executive ranks, but after Apple executives failed to put enough cash on the table, Square walked away from negotiations.
Splitting dinner checks with friends in the age of credit cards and no cash has become increasingly complex, but Square Cash for iOS just received a huge redesign and feature update today that makes paying back a buddy as easy as sending a text.
Square Cash 2.0 now enables anyone to request money from up to 25 people at once, even if they don’t use the app, and best of all there aren’t any fees.
Square has been at the forefront of mobile payments for years now, thanks largely to the popularity of its white card reader that’s used by merchants everywhere.
Now the company is debuting a brand new app called Square Order, and it does away with the need for a cash register completely. The introduction of Square Order also means the death of Square Wallet, a failed experiment that Order hopes to correct.
When Facebook snapped up virtual-reality company Oculus VR this week, it got us wondering what other interesting startups Apple might want to buy before Mark Zuckerberg can get his hands on them.
While Oculus is most well known for its Rift gaming headset, Zuckerberg sees a far more wide-ranging application for the company’s VR tech, envisioning it as a futuristic communications platform. “One day, we believe this kind of immersive, augmented reality will become a part of daily life for billions of people,” he said in his post about the acquisition.
That’s the kind of big thinking Steve Jobs brought to the table when he talked about the way the Mac, the iPod, the iPhone and the iPad would change the way people interact with technology. While Apple rarely dips into its $150 billion cash hoard to buy other hardware firms, here are seven awesome companies whose technology could help Cupertino enhance and improve its existing devices — as well as build entirely new ones.