Wrote this post for IIM Ahmedabad’s Consult Club Blog:

Consult Club @ IIMA

When you think of card payments what typically comes to mind is Customer to Business (C2B) payments – for dinner at your favourite restaurant, at Point of Sale (POS) terminals at your nearest Mall or at that E-Commerce sites that you now buy everything from. However, Jack Dorsey, Twitter Co-founder, is all set to change this, through his new venture – Square.

Square is an application, that let’s individuals accept card payments through their iPhones/iPads or android-phones. It consists of a small square-shaped dongle and an app that virtually converts your phone or tablet into a POS terminal. All that needs to be done is to swipe the card through it, enter the amount and wait and watch as the money is transferred to your Bank account!

The best part of all this is, the dongle and the app are absolutely free!

Wait, free is it, then how do they…

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