In the coming months, https://www.reuters.com/technology/apple-let-iphones-accept-credit-cards-without-extra-hardware-bloomberg-news-2022-01-27/. By turning its smartphones into POS systems, Apple is placing itself in direct competition with platforms like Square.
Has Apple Music ever beat Spotify?
This might be different though, payment system is integrated to hardware and much secured and convenient
I think avoiding the inconvenience of buying and setting up another POS device is what will entice customers to prefer Apple in US atleast.
Itās a win win for Apple either way. Just like Tile for example, either way square will have to live in the Apple ecosystem for the OS and I think they will co exist. You have to think about Android users as well.
You think coffee shops are going to make the barista use their own iPhone?
Shops will buy up old iPhones. Consumers looking for used iPhones will suddenly find a shortage of them and be forced to buy new iPhones. Genius
This is why I'm buying up all used iphones
OP is a noob. Likely never saw the cheap square payment device attached to iPhone.
As a new employee at Block/Square, I also initially thought the product was just the tiny white payment processor/hardwareā¦ until I learned it has built an entire ecosystem for sellers to run a business. Beyond hardware, the space consists of Invoices, Square Banking, Square Loans, Payroll, Inventory Management, Square for Retail, Square Online, Square Appointments and other areas I donāt know on top of my head. There are tons of existing competition too in hardware space and that too just for Restaurants- clover, toast etc Most sellers use Square for the entire ecosystem, not just the hardware. Even then Square is only 1/5 of what Block isā¦ there are adjoining blocks such as CashApp, Tidal, After Pay, and Spiral/Bitcoin. Of course, Apple has enough cash in hand to build all this - if thatās what they want - āHelp me run a business 0 to šÆā or an investment app or a š company or healthcare tech. Will that kill all the competitions? When I get new iPhone/Mac, native Apple softwares are the first thing I delete from my phone .. including iTunes store, Apple News, Apple Podcasts, Apple Stocks (always delayed by 2 mins), Apple Maps, Apple Mail etc Every company shines at something. Thereās also Amazon which launched š¤ hands free payment solution if you are curious and Iām not sure why they have not marketed yet.
You sound like youāre trying to recruit Blinders
Lol, not my intention as Iām just a lowly paid engineer - I have my fair share of complaints especially when it comes to compensation, leadership and growth rate. However Squareās business model/vision is still up top - Economic Empowerment for all
Iāll check back in on this in a year weāll be fine
Bitcoin next
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