It may sound odd to some, but Square believes that the humble receipt can be a powerful tool because it is so closely linked to the transaction between buyers and sellers. Now, the mobile payments company has unveiled a new product that allows direct communications via digital receipts.
Known as Square Feedback, the tool lets buyers weigh in on their experience by clicking a button in their digital receipt and sending a message directly to a merchant. Square thinks the service, which will cost sellers $10 a month, will be a valuable conduit for customer service and allow merchants to build relationships with their clients.
Square Feedback has a number of elements, but one of the most important, the company believes, is allowing merchants to respond directly to criticism. Square processes 10 million digital receipts per month, so it thinks the opportunity to facilitate the building of those relationships is substantial. Square is expected to process around $30 billion in transactions in 2014, according to the Wall Street Journal.
But not all is going well at the company. On Monday, it announced the launch of a new service, Square Order, which lets people place advance orders at participating shops, cafes, and restaurants through their mobile devices. The feature appeared to replace Square Wallet, a service that allowed users to pay for all manner of items at participating merchants via their devices. Square Wallet had been seen as a crucial part of the company's overall service, and its demise -- the company will continue to support it for existing users, but will no longer make it available in either the iOS or Android app stores -- is not a good sign for the high-profile company.