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And late last week, Square Inc., the company headed by Twitter Inc. co-founder Jack Dorsey, began pitching its ultrasmall card reader on massive billboards in New York’s Times Square.

“The trend in mobile acceptance is clearly moving toward a low-cost, low-barrier” offering, said Todd Ablowitz, the president of Double Diamond Group LLC in Centennial, Colo.

Double Diamond’s Ablowitz said the extension of Intuit’s low-cost offer is “definitely in response to the market opportunity and customer preference. There are millions of new merchants out there who can now be served with a low- or no-cost signup and low or no monthly fees.”

Square’s billboard is meant not just to promote its device but also to mark the company’s second anniversary.

American Banker, February 18, 2011