Square has been having a lot of success with their mobile payment solution for merchants. The startup headed up by Jack Dorsey, same guy behind Twitter recently secured a 200 million funding round and also closed a big deal with Starbucks (in the US only for now). As more and more Canadian are outfitting themselves with smartphones the opportunity for mobile commerce rises. With Square’s arrival, Canadian merchants will now be able to take payments through an iPhone, iPad or Android device for a flat fee of 2.75 per transaction.
No word yet on when Square will bring their Square Wallet solution which let’s users through they smartphones.
Mastercard, PayPal, and Visa all seem to be waiting quietly in the wind, maybe this will trigger one of them to step up development and stop waiting for the perfect sceneri0880o between consumers-retailers-devices and just launch and learn.