Apple And Google Competing For Square?
Last year, both Apple and Google approached the mobile payment company Square for acquisition. Square, the mobile payment company by Jack Dorsey, co-founder and co-creator of Twitter. In the past, there have been speculations that Google would be the probable buyer as it would want more information on the purchases that consumers make, both to check how well its ads work and to subsequently target those ads to people. This is one of the reasons why it launched Google Wallet, which is yet to catch popularity for payments. But people close to Dorsey doubt Google to be the buyer because of the sour past discussions over acquisition of Twitter and also Dorsey believes Square’s design values are more towards Apple.
Jack is also inclined towards Apple since Apple is exploring various ways to use its software and devices (launch of Touch-ID) to help people do safe and secure mobile payments. Unfortunately Square is still not a profitable venture and according to some speculations if it doesn’t sell, it might go for an IPO.