Square Adds 'Loyalty Cards' to Your iPhone

Square today rolled out a new mobile payment service that will benefit both retailers and consumers. The retail portion includes a new iPad application that allows the tablet to act as an advanced cash register, negating the need for a normal transaction terminal. The piece for consumers is a new Card Case application for the iPhone. The Card Case application acts similar to loyalty cards and is meant for use in peoples' home neighborhoods. People must first make a purchase at a merchant that supports Square. The merchant will then pass a link to the consumer who can download the Card Case application. Users can then set up a "tab" at participating vendors -- i.e., an account associated with their name and Square account. This would let users to make payments by simply using their name, which is already associated with the Square account and credit card at the merchant's location. The application also provides access to a merchant directory, daily menus/specials are participating restaurants, and stores receipts electronically. Right now, only 50 merchants are supporting this new Card Case in Los Angeles, New York City, San Francisco, and Washington, D.C., but Square hopes more will sign up over time. Square will offer an Android version of Card Case shortly. (follow link to read)

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