I’m just inferring the reaction of Square’s competitors.
The announcement today that Starbucks is going to use Square to process digital payments basically sets into motion events that, in my observation, the whole restaurant industry was sort of waiting for.
Even though Square’s app has been well reviewed, it has not caught on with shoppers, which has been Square’s biggest challenge as it tries to expand. That is in large part because of the limited number of merchants that accept payments that way. Most of Square’s users are small businesses, like farm stands or cafes that also use Square’s credit card reader.
Everyone was waiting. Walking down “technology row” back by the restrooms at NRA this year, one got the distinct impression that, yes, everybody can agree something like this was going to happen. But which of the vendors were going to be Facebook, and which were going to be Friendster? I think there was a real wait-and-see attitude.
So we waited a couple months.
Now, I think, we see.