by George Heymann

Accept credit payments everywhere!

When I first heard of Square, my first thought was great concept! Accepting credit card payments everywhere without requiring a merchant account, monthly fees or minimums will revolutionize credit payments for non-commercial face-to-face transactions.

Similar to how Paypal allows you to send and receive payments online using a credit card without requiring a merchant account. Paypal is missing a big opportunity here, one that I think they will need to address in the near future. Regarding Square CEO Jack Dorsey stated that ” Square is striving to become: a simple payment utility for everyone.”

What about security? If I use my credit card on someones Square account,  scanned on their personal device what happens to my card information? Is it stored locally? Is it encrypted before its transmitted to square for processing?

My security concerns were alleviated after reading through Squares extensive security policy . Their security policy is broken down into four areas:

  1. Application Security
  2. Physical and Network Security
  3. Organizational Security
  4. Disclosure Policy

My specific concerns were addressed under Application Security:

  • Storage of sensitive data is kept to a minimum. In particular, card numbers, magnetic stripe data, and security codes are not stored on any Square client device.
  • All applications developed in-house are subjected to strict quality testing and security review.
  • Web applications are built according to the industry-standard secure coding guidelines, such as those recommended by OWASP.
  • Card-processing applications meet the strictest requirements of the PCI Payment Application Data Security Standard PA-DSS.

Engineering and operational staff are aware of their responsibilities for security, and have the knowledge and training necessary to meet them.
Currently Square is available for iPhone, iPad and Android. You can download the Square app from the respective app store. You get a free card scanner once you sign up.

@techeadlines We are hoping to device agnostic as soon as possible. That will include laptops and desktops!Thu May 20 23:58:29 via TweetDeck

Once you receive your Square reader you can activate, login to your account here.

The card processing fees are:

Are you a square user? Please share your user experiences with our readers!

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