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If you’ve attended any acquirers’ conferences, tuned into industry news, or followed payments trends this past year, you’ve surely noticed a common topic: “Should we beware of Square?”

It is truly shortsighted to downplay Square’s success as little more than marketing magic and dismiss its “ability to win long-term” because its business model is yet “unproven,” again in the words of the infographic. Who can guarantee that any business model will continue to flourish in the future, even if it has proven successful in the past? To wait on the sidelines to see where the chips will fall is nothing more than “old thinking,” and it’s very dangerous.

Here are three flawed propositions taken from the infographic and current in the acquiring marketplace that show how that old thinking plays out with respect to Square.

Digital Transactions, November 27, 2012