Remember when no one could talk about Square without giggling at the word “dongle”? Well, after a couple years, the mobile payments startup seems to have outgrown that awkward adolescent phase. Last week, Square dominated Metro section headlines with talk of its pilot program to test the company’s iPad credit card system in New York City yellow cabs. And last night’s launch of a new iPad app called Square Register, which offers merchants data analysis and additional operational capabilities, seems like another step towards mainstream adoption.
As TechCrunch reports, the app makes an even stronger case for Square as a viable alternative to a mainstream cash register by giving merchants the same functionality available to your average big box retailer:
“The new app and Square also features in-depth analytics, allowing merchants to segment consumer payments data and transactions. The dashboard provides a glance of basic sales information and recent transaction history, including the number of payments, subtotals, tax, tips, refunds, account deposits, etc. It also shows several interactive data sets, breaking down sales by month, days of the week, time of day, and even size of payment. Merchants can access and explore these analytics when they log into their Square account online as well.”
Along with the release, Square revealed that it’s now processing $4 billion in payments a year, up from the $2 billion a year it reported last October.
But if you think this means Square’s Prada and Hermes-supporting CEO and founder Jack Dorsey has gone all corporate and . . . square, think again. In a recent interview with New York magazine’s Joe Coscarelli, Mr. Dorsey continually steered the conversation toward the nose ring he rocked from his rebellious days at NYU (or about as rebellious as one can get on St. Marks) up until Twitter got money from Union Square Ventures.
During an hour stroll on the High Line, Mr. Coscarelli notes, “He keeps returning to that nose ring, like it’s the most important thing about him.” Of course, there comes a time when every C-suite must hang up their individual flair:
“We raised money from Union Square Ventures, and I had the nose ring in,” he says of Twitter’s initial fund-raising. “No one really thought anything of it. But afterward I was going to Shake Shack—it was the summer, and I was wearing a full suit. I looked over, and there was another guy in a suit who had a nose ring. I took it out that night.
As an anonymous user writes in the Quora question,Why is Jack Dorsey always wearing a suit?: “He traded in the beard for a clean shave, the turtle neck for a blazer, and the nose ring for Prada shoes. If you were a merchant, which guy would you want handling your money?”