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Wednesday, February 23, 2011

Artists! Self-employed! Get More and Different Money with just your Smart Phone!

I've kept this to myself for over a month but must let you all know about this easy cheap way to possibly increase your revenue.

Jack Dorsey, the creator of Twitter wanted us to have an easier cheaper way to get money by having the ability to get credit card payments. Especially when we all have had experiences that it was credit card $$ or no $$. He created square because he had this experience with an artist friend of his. Here he talked to Charlie Rose about it:

JACK DORSEY: It came about because my cofounder is a glass artist and he sells these beautiful glass faucets and he was selling one for $2,000.  And all he had in his pocket was his mobile phone.  He couldn’t accept the credit card from the woman who wanted to buy this faucet and she didn’t have a checkbook and she obviously didn’t have $2,000 of cash, so he lost the sale.
And we were discussing this and we have these general purpose computers next to our ears and yet –
CHARLIE ROSE: The iPhone-4.
JACK DORSEY: Or an Android phone, or a blackberry, whatnot.  But yet he wasn’t able to accept that credit card.  So we wondered why that was, and we answered it by building this system.
Jack Dorsey thinks that the best technology is technology that disappears. Meaning, you think of it as a natural extension of you, i.e. the iPhone, Android, Blackberry, iPad. I thinks that's why I didn't think to blog about it. It just seemed like air, running water, my car. Natural. 

There's no start up fee, no monthly cost. If you have a smart phone you sign up in about a minute for "Square" and you can immediately take a credit card for payment of your services or painting or 'glass faucet.' Then you can, and will, send for the free tiny card reader that fits in your smartphone. It arrived in two days for me. It's adorable. 

Square takes 2.75% of amount for swiped cards, but if you're in a pickle, thought you'd never be interested in credit card payment, but suddenly need to make the deal on your art work or lose the sale, or whatnot, you can sign up in a minute or two and immediately be paid by digitally entering the credit card numbers. In that case they take 3.5. Or 3.5 if you, say, just lost the cute square reader in the toilet from your pocket at the bar, anyhoo, you get the drift.

Exciting. Adorable. Amazing. Practical. $$$$$

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