1. Max Kramer mckramer@unc.edu

2.  Transactions between consumers and businesses Cash Check Credit  Transactions between individuals Cash Check Credit  Why not credit too?

3.  Expensive to buy Difficult for new businesses  Hard to program  Costs Per use Monthly Hardware  Most require wires Not portable

4.  Twitter co-founder Jack Dorsey  Phones = computers Use power of everyday device to handle credit transactions  Major obstacles Fraud  Keep cost to user low by keeping fraud low Input  Type in credit card number  Read magnetic strip from card Mobile platforms

5.  Challenge How to get information from credit card to the phone?  Solution 1. Create hardware to read strip 2. Transfer data to the device  How to transfer?

6.  Need to make independent of phone Android phones use USB iPhones use the proprietary iPod connector

7.  Solution Use the audio jack Standard on virtually every phone  Steps Read magnetic strip Encode as audio stream Send to phone Listen to stream Decode audio information

8.  Store Common products Images of goods  Track sales  Tips & tax  Location  Receipts  Identity Square users

9.  Square (hardware) is free Activate account and company ships hardware for free  Cost per use Swipe: 2.75% + $0.15 Type: 3.5% + $0.15

10.  Any small business  Artist  Craigslist seller  Tennis lesson pro  Tutor  Babysitter  Fundraising  Haircut  Doctor who makes house calls

11.  User Identification Security Companies  Loyalty cards  Drivers license  Extend Android API

12.  Named to top 50 inventions of 2010 by Time magazine  VeriFone released competitor Sleeve for iPhone Not audio

13.  CNET Twitter co-founder's 'Square' comes into focus  Pogue’s Posts State of the Art - A Simple Swipe on the iPhone, and You’re Paid State of the Art - A Simple Swipe on the iPhone, and You’re Paid  Tech Crunch Square Now Processing Millions Of Dollars In Mobile Transactions Every Week Square Now Processing Millions Of Dollars In Mobile Transactions Every Week  Square on github Repositories Android API