Today In Connected Economy: QuickBooks Introduces Card Reader For SMB Payments; Square Eyes Open Developer Platform For Crypto Offerings
In today’s top connected economy news, a new QuickBooks card reader offering is designed to help small and medium-sized businesses (SMBs) get more expedient payments, while Square is reportedly working on a new decentralized finance (DeFi) system. Plus, Chase and Tock are working together to help Chase eatery and hospitality clients recover from the pandemic.
A new QuickBooks card reader offering is meant to help SMBs receive faster payments. QuickBooks Card Reader lets those who own SMBs accelerate in-person sales and receive payment on the go. Moreover, their transactions can be reconciled without intervention in QuickBooks. “With the addition of QuickBooks Card Reader to our portfolio of money offerings, we continue to make it easier for small businesses to get paid,” Intuit QuickBooks Money Offerings Senior Vice President Rania Succar said in a release.
Square is said to be at work on a new DeFi system. CEO Jack Dorsey said on social media on Thursday (July 15) that the firm wants to make it simpler to “create non-custodial, permissionless and decentralized financial services.” While he said in the tweet that Square’s venture doesn’t have a name yet, the primary focus would be on bitcoin. Tidal, Square Seller products and Cash App are the three business lines Square operates.
Chase and Tock are teaming in an effort designed to help Chase eatery and hospitality clients recover from the pandemic. From the present through the end of the calendar year, small business owners that operate pop-up shops, events, wineries and eateries will get as much as $1,200 toward subscription fees when they enroll for one year with Tock and connect their Chase business checking account. Tock, which was rolled out in 2014, is meant to help with digital reservations, takeout orders, table management and events. The company works with clients running the gamut from neighborhood pizza outfits to Michelin-starred eateries.