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Square's announcement today that the new card reader, which all merchants will be required to use by October 15, 2015, will cost $29.95 is especially disappointing in that the the reader will be obsolete on the day it is shipped.

Square has continued on its spectacularly unsuccessful strategy of being the outlier. The now no longer free reader will support EMV, the European Master Card-Visa standard which Visa announced its plans to implement in 2010. It will not support NFC, the contactless standard which allows for totally secure transactions with no chance of hacking of data. 

All of Square's competitors have announced that upgrades to their payment terminals will be available to their merchants at no charge. We have 11 months to go shopping and find another alternative to what was, at one time, a spectacular product. "How the mighty have fallen"

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Agreed. The Free Market will decide.

The problem with CurrentC is that it does not yet exist. CurrentC has been in development for several years by a consortium of major retailers. It took years for them to agree on specifications and so many compromises had to be made to maintain a consensus that no product has ever emerged and no target date for the release of a product has been announced.

The members of the consortium had to agree not to adopt a different standard for payment cards or face fines. Many of the members have said both publically and privately that they regret that decision. 

So you think everybody should just stop and go with Apple? Why?

Not everyone is going to have an Apple phone. And it will be years before those of us in the boonies decide to use anything other than our cards. Also most people over 30 will not be using the technology anytime soon either.

I don't know where you live, but there's a big, beautiful country out there that is mostly rural. I mean general stores rural. Like my neighbors and me. I haven't been inside a shopping mall in over 10 years, simply because the closest one is over 1 1/2 hours away. Another reason is because the last time I was in one, all the stores were geared to 14 to 20 year old kids.

Getting the absolute latest tech gizmo is nowhere on the top 10 things your average American wants.

I admire Apple's business. TRUE capitalists! Apple's profit margin makes EXXON look like a wannabe. Just before the new phone's launch, Apple had more cash in the bank than the United States Government.

Love it... while I am a techie woman.. I don't own an Apple product.. I think they are way overpriced and I am not fond of them.  Yes my son has an Ipod but since I got him an Android phone the Ipod is largely unused.  So I agree..a large part of the country will continue to use the olden ways of credit cards.  Heck.. I still read a newspaper.  :)

ME TOO! The actual kind that's delivered to your home in the morning.

I love a daily paper delivered too.  However we quit our paper years ago because of shoddy writing, stories continued to another page but the rest of the story was not there, etc.  So we read online.  I grew up with a daily paper delivered, 2 actually one from my hometown (afternoon) and one from New Orleans (morning) so it is missed. :(

Not to hijack this thread, but the US government has NO money in the bank

As of April, 2014 Apple had $160 billion on hand, Microsoft had $85 billion on hand and the US Government had $49 billion on hand. That's the cash they had in the bank.

Actually the Government has an unlimited amount of cash on hand because they make it.

I recently heard that Apple will be charging a 30% fee to merchants using the new Apple Pay system. Does anyone know if that is true? It seems outrageous to me, but then Apple has never been shy about what they charge for products and services.

That is absolutely,positively, BOGUS. Apple pay costs nothing to the user, and .03% of the existing fee to the merchant processor. In return, Apple gives security so good that both the chairman of the CIA and the director of the FBI have called on Congress to outlaw the encryption method because it is unbreakable, and is therefore a threat to National Security.

Security losses have soared, as we all know, and retailers are falling over themselves to adopt this

In a discussion today by an Apple Pay expert, I learned where the confusion came from. If you have an app in the Apple App Store, and inside this app you allow users to make what are called "in app purchases", ie more lives, extra weapons, better armor, or any other non tangible thing, Apple takes 30% of the purchase as their commission. This does not apply to apps which sell product, books, shoes, etc. This provision has nothing to do with Apple Pay. Neither purchasers or sellers are charged any more than listed prices. Apple makes their money off of Apple Pay by charging the payment card company a small percentage of their take.

I'm curious. Just why are pushing Apple so dang hard? If you love them, fine. But why the zeal to a point where everything else is terrible?

When Apple Pay is available on my ATT Go Phone, (I don't even know what brand it is) let me know, and I'll think about it.

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