Earlier quoted context omitted.
And that's probably why they'll win. This generation of payment technology isn't going away in the next 12-18 months. I bet we won't see the next generation surpass this generation (in usage) for at least five years. During that time, someone like Square can build tremendous momentum and relationships that will allow it to much more easily transition to the next generation, because it has a strong brand, strong relat…
Maybe. But relationships with whom? Why would a large retailer want to use Square? Why would a competing point of sale vendor with an enormous installed base want to work with Square? Netflix isn't a very good analogy. The retail payment space involves a three-sided market: consumers, merchants and POS vendors. Netflix didn't even have to struggle with the complexity of a two-sided market. Though it's done well for i…
On top of that, Keith Rabois is one of the top operating executives anywhere, and has extensive paypal experience.
NFC has been "the next thing" for years. I worked for an NFC reader company in ... 2003, which had been around for years. (ViVoTech). We don't even use chip and pin cards in the USA -- the magstripe is going to remain a major part of the market for the rest of the decade.