The newly released Square Stand product and the continued partnership between Apple and Square are influencing the POS revolution occurring worldwide. According to Todd Ablowitz, President of the payments industry consultancy Double Diamond Group, the introduction of Square Stand is “yet another example of how they are moving up market from micro-merchants to small and medium-sized businesses by offering an affordable, simple and feature rich cloud-based POS system. This is a natural evolution for a disruptive technology player like Square, and it poses challenges for acquirers because small and medium-sized merchants are the sweet spot of profitability for acquirers.”
Ablowitz added a few words of wisdom for ISOs and acquirers who are, “still lugging around terminals and selling merchants on rate.” He suggested they “start looking for a new job.” As industry experts have stated before, it is the superior knowledge and service ISOs and merchant level salespeople can bring to merchants that will continue to set them apart.
The Green Sheet, July 15th, 2013
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