You're assuming that people carry around $100 to spend on something.
The sweet spot of Square is people who are selling things that cost more than what is in most people's pockets at any given time, and want to be able to do it from anywhere.
The sweet spot of Square is people who are selling things that cost more than what is in most people's pockets at any given time, and want to be able to do it from anywhere.
Anecdotally, they sell 10-12 more CDs at a show when they are able to take credit card payments.
Other use cases??? Flea markets, artists, street vendors, school functions (fairs, car washes, etc.), fund-raising or charity things, paying a cover at a party or at an art/music venue, masseuses and the like, gambling debts and poker games... I could go on. One thing I'm curious about is whether Square forbids min charges or charge-ups the way credit cards do ("you owe me $100, but I don't want to pay the fee, so pay me ~$103 instead"). Not that they could really enforce it any better than credit card companies...