Square Wallet

Square reportedly in talks to sell after growing losses, held ‘informal talks’ with Apple

Mobile payments startup Square is looking to sell its business, following growing losses and shrinking cash reserves, according to the Wall Street Journal.

Square, founded by Twitter’s Jack Dorsey in 2009, makes software, hardware products, and services, including Square Register and Square Wallet, for customers to pay merchants in an easier way.

Square has discussed an acquisition with Google in 2014, according to the report, with prior talks dating back to 2012. Additionally, Apple is said to have held informal talks with Square about a deal, interesting given the mobile payment rumors that have been circulating the Cupertino-based company. 

Square Wallet redesigned in a major update

Twitter founder Jack Dorsey’s mobile payment startup Square has been gaining serious traction, slowly but steadily. Just recently, the company released a stylish Stand accessory which turns your iPad into a full-blown cash register.

Square has also updated its Register app with kitchen tickets and a bunch of new features for restaurants and today their universal Wallet iOS app has received a face-lift and gained several new capabilities in a major 3.0 update…

Square’s Wallet app gains gift cards with Passbook integration

Twitter founder Jack Dorsey’s another startup, Square, has made a name for itself with a compelling and competitive mobile payment service which, in my mind, is more straightforward and powerful than Google’s Wallet. The company is selling its iPhone payment dongle via the online Apple Store, having released an accompanying Wallet app on iOS and Android on November 8. It supports, among other things, receiving electronic receipts and paying with your own name.

Now, the Wallet app has been recently updated with micro-payments at Starbucks locations and now Square has added a timely new functionality, the ability to send personalized gifts that can be used at about 250,000 businesses supporting Square Wallet as a payment option.

This new feature also taps Apple’s Passbook service in iOS 6 so any gift card created with the Wallet app gets automatically imported into Passbook and synced across devices via iCloud. This let you redeem a Square gift card at any of the supported points of purchase via Passbook. How’s that for a hands-free checkout?