Square, the “service that enables anyone to accept credit cards anywhere” has just launched what they’ve labelled as a “Business in a Box” which they say will simplify setting up point of sale for small companies. With a couple of Square readers, iPad stand and a cash drawer you have all you need to get up and running with your retail business.
App approach
By creating an ecosystem, Square is able to offer a platform for innovation much like the iPhone did. Rather than a silo’d system, the Business in a Box simplicity and openness allows a merchant to pick and choose apps that are complementary. Those apps can include accounting, analytics, inventory and other lightweight ways to integrate a business.
This idea is a spur to innovation and a severe challenge to the status quo.
That easy?
Quite apart from creating a turnkey solution and cutting out hefty merchant fees by banks, this poses a more interesting question in general.
Is it possible to literally create an entire business model from only a couple of clicks and a few boxes in the post?
And if this is the case, then what future is there for larger and frankly bloated off-the-shelf packages which need hefty effort to configure and tweak. If all you need is a wi-fi or cell data connection, why would you need to compete on expensive infrastructure?
Solve for Interesting
Seth Godin Blog
Jeremiah Owyang
IT Redux
HBR Blog
Clay Shirky Blog
SocialMedia Today
Chris Dixon
Brian Solis
Chris Brogan
The TIBCO Blog
Venture Beat
Engadget
Wired
Lifehacker
Mashable
The Verge
GigaOM
TechCrunch
This is definitely a pattern for how to disrupt. Just as Apple created the app as a way to augment the smart phone, Square has the credit card reader to augment the basic business setup. Just as Apple expanded from that early platform, I expect to see Square do the same.
This is happening in a big way. On a recent trip to Seattle, most of the small retailers I visited had this setup: from small restaurants to breweries, it was pervasive and they loved it. Their remarks: “it’s so easy” and “it just makes sense.” As a customer, it was a pleasure to use, it was easy to sign (with my finger!) and I liked getting emailed receipts.
Reminds me of another platform for disruption…the iPhone (as Theo notes). This shows you don’t have to create the next bright shiny object to disrupt but instead can rethink something that’s been around a while but turn it into a platform.