Hip to Be Square

Read the case study and answer the questions that follow. In $2009,$ Jack Dorsey, cofounder started off as a simple way for small businesses, such as street vendors and startups, to accept predit cards withy, easy for small businesses, especially mobile businesses, to accept credit card transactions as a disrupting influence in the mobile payment industry. The burst of Internet usage combined with social media connectivity in the $2000$ s fueled many entrepreneurial endeavors. However, credit card machines only worked with could not accept credit card payments. Square revolutionized mobile payment by capitalizing on the ubiquity of $-$ smartphones and providing an alternate method for machines with a small accessory$-$a white square$-$shaped credit card reader$-$that was easily inserted into the credit card of any smartphone. As long as a smartphone was available, any business could accept a credit carib payment from jack customer, regardless of the credit card used, with a simple swipe. In addition, as the pioneer in mobile payment processing, Square eliminated all fixed monthly fees, opting for a mere $2\mathrm{.}75$ percent per transaction fee Following a round of $$10$ million in funding, in May $2010,$ Square launched its app for iOS and Android and shipped $50,000$ units of its free credit card reader for pilot testing. By November, Square $50,000$ units of its free credit card reader for pilot testing. By November, Square was processing millions of dollars every

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