Square. Proof positive, cash could end soon.

When I attended the Tweetup at PacBell park on Friday, April 30 it was the first I heard of Square. Jack Dorsey, co-founder of Twitter, was describing their new venture which allows businesses and individuals, to send and receive money through their phone. Download the app on your phone and they send you a free square device that fits in your headphone jack. This is a card swipe, that will allow anyone to send their card instantly into your bank account. The possibilities are mind-numbing as this is not cost prohibitive to individuals. No monthly charge or hidden fees. The receiver of funds rate is about 3% + 15 cents. You’ll also have a digital record of everything you purchase. I could see this coming to companies both large and small, to accept payments at no charge to their customers.

Starbucks just released Starbuck’s Card Mobile for iPhone in all Target locations and select places in Silicon Valley and Seattle. Apple Stores have shunned the archaic cash register from the beginning. This could be the game changer though. Imagine being able to split your restaurant bill with a large group of friends easily and the readiness for betting during a football game. This could be bad for gamblers! The hardware started shipping to individuals, Monday, May 3. The iPad is the only device that has the app, but is coming to every other device soon. Biz Stone even showed up. This has got to be a big deal. Check it out!

(Maybe, buy some stock too.)


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