Square Wallet has added gift card functionality to its iPhone app in hopes of snatching up a hefty slice of the gift card pie for the holiday season — a business that's estimated to be worth $100 billion annually.
The new service lets anyone send a personalized gift to family or friends for use at any one of the 250,000 nationwide businesses that accept Square Wallet as a payment option — removing the antiquated idea of carrying around a physical gift card. Jackpot!
The best news for iOS 6 users is that the digital gift card service integrates with Passbook so your gift cards will be at the ready for making mobile payments even easier. The app is compatible with iPhone 4S, 4, iPhone 3GS and also Android.
Square founder Jack Dorsey, who also created Twitter, announced the gift card addition to his app Sunday morning on his own Twitter feed — then quickly started posting gift card images to stimulate brisk morning conversation around the launch.
One commenter Abdullalah Anwar gushed in a tweet to Dorsey; “Dude, this is awesome!”
Square Wallet, which is a free download in the App Store — already offers hands-free checkout and the ability to simply say your name at the register and pay. For the espresso addicted like myself — Square can be used at over 7,000 Starbucks locations.
Even if someone does not have a smartphone you can send a Square gift card to anyone with an email address. They just print out a QR code.
In the immortal words of Huey Lewis and The News — “It's hip to be square.” Sorry... I just couldn't resist going hardcore cheesy.