While many have expected Square to compete with Apple in the mobile payments space, Jack Dorsey’s company is planning to rework its hardware to accept Apple Pay in 2015.
Dorsey told CNN that he wants Square to help businesses accept all forms of payment, and Apple Pay is no exception.
“We’re not building a credit card. We’re not building a payment device. We’re building a [cash] register, and this register accepts all these forms of payments,” Dorsey said.
Square’s card reader allows merchants to accept card payments from an iPad or iPhone, making it infinitely easier for consumers to forgo cash payments at smaller stores, stalls or marketplaces. Dorsey announced in September that the company would not be stopping at card payments, and was planning alter their registers so that merchants could eventually accept cash, cheque, bitcoin – and Apple Pay.
Square announced on Friday that it is launching its Square Register app globally, but has yet to offer its hardware outside the US.
Using Ripple's enterprise blockchain solutions, Standard Chartered has completed its first real-time cross-border payment for businesses with another major correspondent bank.
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Digital payments giant ACI Worldwide is teaming up with VocaLink for real-time payments infrastructure.