Apple gonna have the option to let everyone bill through the iPhone. What do you about the future of square with this new huge competitor? Got an offer and Iβm worried it will just tank even more Offer is 440k L6
Payment collection is only one small piece of what we do. Merchants need the business tooling that we provide and Apple is imo unlikely to invest heavily on business management software
Appleβs new iOS payments is powered by Stripe seems they are working hard to build a monstrous IPO https://twitter.com/patrickc/status/1491066192089722880
It's not like it's an exclusive deal with Stripe. It's an API that Apple's providing (Android already has this). I don't think this is going really impact Square's bottom line.
The Mafia is coming for you
Apple likely won't accept Android or credit cards, so imagine being a cashier and having to use two different sets of hardware, merging two different accounting systems, etc. Maybe at farmers markets and things people might use it, but I don't see it being the main way to accept payment unless apple makes it more inclusive
Seems like the plan is to accept all cards π³
But I don't believe you can tap a credit card, you will have to pull out your iPhone. many people still prefer to pay with a physical card or use Android. Edit: nm I read it works with contactless cards which makes it more compelling. I still think this only applies to very small businesses with no retail locations though. There is also the question of whether apple will allow square to use this API as well.
at this point, square is like an os for small businesses. Their value is greater than just payment processing. Maybe this will compel some customers to switch off of square, but apple doesnt offer the other kinds of services that square does. Hard to tell if theres a direct impact. Id be worried if apple started making software for small businesses
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square still dominate small business payment