Jack Dorsey and team are launching a new product today called Square Register. The product adds a new layer of business intelligence for small merchants that want more ways to connect and communicate with their customers while offering consumers a way to discover offers and track expenses.
From the site:
Transform your iPad into an elegant point of sale. Customize it with product photos, prices, and sortable categories. Accept cash and credit cards.
Swipe a card, let customers sign directly on the screen, and send them an email or text message receipt. Customers can add a tip as they sign.
Know Your Business
Know how many cappuccinos you sell each day. Download full reports that give you insight into your sales patterns and inventory.
Connect with Customers
Let your regular customers set up a tab right from their phone and pay with their name. Publish your menu and share daily specials.”
“Square’s COO Keith Rabois says the iPad app makes these expensive and cumbersome terminals obsolete for merchants. Not only is the reader and app free (and beautifully designed), but the register is designed to help create and maintain meaningful relationships with customers. Historically, Square’s readers always stored every purchaser’s receipt for merchants and allowed merchant’s to send a copy of the receipt to the purchaser via SMS and email. It was fairly simple.
Now, with the upgrade, merchants can send customers a link to download an app on their mobile phone called a Square Card Case. And this gives merchants a whole new level of engagement with their customers. And data is another big component of Square’s announcement—Dorsey says merchants will have Google Analytics style data that merchants can access, such as how many muffins were sold, and to which types of customers, and more.”
RRW has some quotes from Dorsey:
“Think about how you pay for something online,” Dorsey said. “Say Amazon or iTunes. You go to the store, you enter your credit card information and then after that you just choose what you want and it is a one-click purchase … It is not all that different an idea from going to your neighborhood bar and handing over your credit card and opening up a tab.”
“Get rid of the receipts, get rid of all this mess and replace it with one clean digital card,” Dorsey said.
“It has everything that you have purchased, all the way back in time,” Dorsey said. “No other company in the world has this information.”
Hands on with Engadget:
“To get started, you make a regular, Square-enabled purchase at a participating store, at which point a text-message receipt is sent to your phone — we skipped this step, as this was just a demo. Once set up, we were introduced to the Card Case, holding cards for the participating stores — only 50 spots in five cities, for now — and an “Explore Places” button that offers access to a directory of participating outlets.
We selected a nearby cupcake stand, clicked “open tab” and picked our poison: a miniature red velvet cupcake, in this case. The merchant picked our name from a list of open tabs, charged the tiny treat to our card, and a receipt was promptly pushed our way. After the transaction was complete, we went back to the cupcake card in the Card Case, and there was the receipt. All in all it was a painless process, but, then, so is whipping out a real wallet to make a purchase.”