I agree with your tone...it is a great business they've worked themselves into. ... | Hacker News

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		vandalizeit on March 3, 2011 \| parent \| context \| favorite \| on: Square Now Processing $1 Million In Mobile Payment... I agree with your tone...it is a great business they've worked themselves into. However, you are leaving out one major expense; I imagine they're paying the credit card companies between 1-1.5%.

niketdesai on March 3, 2011 [–]

Oh wow, I totally blanked on that - yeah agree. I'll edit that in because it blows my argument.

I suspect, however, that the cc terms will be nicer since, in theory, Square is opening up the market more than it's cannibalising it.

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