Buy Mobile Gift Cards With Square Wallet For The Holiday Season Today (Video)

A new version of the Square Wallet app, which works with Apple Inc.  iPhone and iPad as well as devices running Google Inc.’s software, lets users buy and redeem mobile gift cards in amounts from $10 to $1,000. Square enables retailers to accept payments with a device that plugs into a smartphone or tablet.

Mobile Gift cards are Square’s latest effort to convince customers to choose its fledgling service over PayPal Here, a mobile card reader that also works with smartphones and tablets. Square’s gift certificates may help the company gain share in the market for mobile payments, which Juniper Research estimates may top $170 billion in transactions by 2015, up from about $60 billion last year.

Square’s push into gift cards follows other efforts this year to make its service more appealing to retailers.

Recipients of Square’s cards can integrate them into Apple’s Passbook app, which stores loyalty gift cards, digital tickets to movies, concerts and sporting events in one place. That makes it more likely that owners of Apple’s iPhone and iPad will try Square’s service.

Square, based in San Francisco, is processing about $10 billion in transactions on an annualized basis, about the same volume PayPal said in July that it anticipated for this year.

Click here to see the full article by Danielle Kucera of  Bloomberg News

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