“Square intends to bring immediacy, transparency, and approachability to the financial world. We want to enable all people to accept payments instantly, with access to all the information they need, in a way that feels amazing and engaging. When you think about it, paying someone is just another form of communication, an exchange of value that deserves to have the same design and product considerations that every social service prides itself on maintaining.
We started in February 2009 with what we thought would be a simple task: open a merchant account to accept payment cards. This proved surprisingly difficult for us, and as we asked around, similarly challenging for countless others. Once we were approved for our account, it was unclear how much we were paying, to whom, and why it cost so much. Before us was an industry and a process in dire need of simplification.
Evolving something down to its essence isn’t easy (or instant). In Square’s case, it requires the identification, coordination, and navigation of many massive and forward-looking organizations. Square seeks to build an amazingly beautiful experience; every pixel, piece of plastic, rate, detail, word, policy, partner, and decision is considered, debated, and improved constantly.”
Jack Dorsey, CEO of Square