As if one-click payments didn’t make it easy enough, Square has upped the ante by announcing a new system that allows users to only say their name to confirm payment via your mobile. That’s right. Only Your Name. As in, “Charge it to Sam Bennett, please and thank you…”
Square wants to be a part of every step of the mobile payment process- replacing cash registers, signatures, and even receipts. And they’re not stopping there- Square is getting into the data game too. They’ll be giving vendors like ShopKick and Loopt a run for their money when it comes to providing retailers consumer data, including who goes into their store, how often, and what they’re buying when they go.
Privacy? Security? As far as the actual security of the transaction goes- Square says that photos and the fact that you can only pay if you and your mobile device are within a certain range of the store makes it more secure. Privacy? The days of keeping your purchases- and your life- private…I’m afraid they’re gone.
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