Square Adds Gift Cards Business For Mobile Payments
Mobile-payments company Square just added a gift card function to its app for merchants and local shoppers, according to a report.
iPhone users can add the card to their Passbook digital wallet, a feature that's already built into Apple's native operating system. Android users who has the Square wallet app can also add the cards to their account.
The best thing about the Square gift cards is that unused cards don't expire and don't charge monthly fees. Also, if the purchaser have unused cards it can get fully refunded to that person.
In addition, a new version of the Square wallet app has been rolled out for Apple's iPad as well as devices running the Android OS. Square is also now selling virtual cards for Starbucks.
Square's latest venture into the gift cards business may not be a good news for PayPal, a company which has been a dominant force in the industry that uses virtual payments for both merchants and mobile shoppers alike.