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Point-of-Sale Industry Technology Blog

Our Passion is Focused on the Advancement of Payment Processing and Point-of-Sale Technology

Square Picks Up The Ability To Send Invoices

Want to take credit cards from your taco truck? Use the portable Square Reader. Want to sell stuff through a little pop-up online front-end? Use Square Market.

But what if you want to invoice someone for a service (like, say, wedding photography) after the fact? Before today, Square couldn't really help you there. But now it can!

This morning, Square is launching a new invoicing system that it calls — you guessed it — Square Invoices

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Payments Firm Swipely Raises $20M More As Its Processing Tally Crosses The $2B Mark

Payments company Swipely has announced that it raised a Series C round totaling $20 million. This round, led by the Pritzker Group and including previous investors Shasta Ventures and First Round Capital, brings the company’s tally to more than $40 million. Swipely had recently announced that its payment processing rate had doubled to $2 billion on an annual basis, but declined to tell TechCrunch at the time if it was pursuing more capital. As it turns out, and as this publication presumed, it was in the process of nailing down the Series C. The company’s revenue tracks up with its payment-processing rate, so to see it double that figure from $1 billion to $2 billion in under a year implies quick top-line growth.

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Square Begins Offering of Cash Advances to Small Businesses

Today, payment processing company Square is announcing its first big additional vertical based on its enormous amount of business data. That offering is called Square Capital, and it enables the company to offer cash advances to businesses in its network. Square Capital has been piloted for several months, in which Square says it has issued ‘tens of millions’ in cash advances to ‘thousands of merchants’. The program is interesting in several aspects, all deriving from the fact that this will be (for now) exclusively for merchants ‘running their business on Square’. This is a proactive service that Square will be offering, reaching out to businesses it feels could utilize a chunk of cash to expand or energize their product in some way — and are capable of paying it back.

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Clinkle the Stealth Payments Service App Hacked before Launch

Clinkle the stealth payments service app that will use high-frequency sound to interact with POS systems managed to raise $30 million... hacked before launching anything. A anonymous PasteBin user leaked a list of the only 33 Clinkle users, user IDs, profile photos, and phone numbers to PasteBin. Based on the data provided, it seems as though these users are Clinkle employees who are testing the app.

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Mint.com now offers Coinbase digital-wallet integration for Bitcoins

Mint.com now offers Coinbase digital-wallet integration for Bitcoins management alongside traditional funds & features. Mainstream appeal of the virtual currency has developed to a point & "we felt like it was something we couldn’t ignore anymore," said Vince Maniago, Sr. Product Mgr. of Intuit. Zynga, Overstock & TigerDirect also began accepting Bitcoin in the past month which further legitimizes the “crypto-currency” as it continues to shakes things up in the tech & financial worlds. Is Bitcoin the future of money or a future-flop?

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Introducing PayPal Beacon

One of David Marcus’s biggest challenges when taking on the role of President of PayPal was extending the platform into point of sale, and making it easier to pay with PayPal than swiping your credit card. But changing consumer behavior is an enormously difficult task. So he thought that the only thing more alluring than swiping a card is simply doing nothing when you check out of a store. PayPal Beacon, the new add-on hardware device for merchants that leverages bluetooth technology to enable consumers to pay at stores completely hands-free.

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Apple files Patents related to fully Integrated POS System

Apple has been coy in revealing its plans for a touchless payment solution, but a patent filing discovered gives clues as to where the company is headed. The tech-giant has filed patents related to mobile payments before, but this one describes a fairly complete, fully POS integrated system for conducting real-world transactions without compromising user data.

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Bridgewalker exploring the use of Bitcoin Network

Makers of digital-wallet app Bridgewalker, have been exploring the idea of using Bitcoin, the network as a payment mechanism, but avoiding the use of Bitcoin, the currency. By using the Bitcoin network in this way, it then becomes a technical solution similar to the ACH network or credit card networks, in that it provides a payment backbone which allows the electronic transfer of funds denominated in fiat (e.g. euro or dollar). This appears to be a payment network which has no barrier of entry, as anyone can plug in, as long as they speak the 'Bitcoin Protocol'. This concept has also been described as 'money over IP' or an IP address for money.

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Stripe | Paypal and Braintree

POS News | In a lengthy demi-diatribe Carmel Deamics & Michael Carney of Pando.com declares, "Everything about Stripes financing screams go 'big or go home'". Their beef: The problem remains the payments ecosystem likely can only support one 'big' player. PayPal & Braintree seem better positioned than ever to claim that crown.

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Breaking POS News | Stripe, an online payments startup raised over $80 million

Stripe, an online payments startup raised over $80 million in new funding this week from venture-capital investors including Khosla Ventures, Sequoia Capital, and Founders Fund, Stripe, at just over four years old, is now valued at $1.75 billion. Stripe provides easy-to-use computer code that any merchant can plug into their website or mobile app to begin accepting credit-card payments. The company takes 2.9% of most transactions in addition to a flat commission of 30 cents per charge—the exact same rate set by PayPal.

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