Square takes philanthropic swipe with red reader

Feb 19, 2014

Financial services startup Square is trying to turn the swipe of a credit card into an act of generosity.

To pull it off, Square is unveiling a red reader as a charitable alternative to the millions of white readers the San Francisco company already distributes. Square's readers plug into the of smartphones and and allow the devices to process payments.

The new color unveiled Wednesday is part of an alliance with (RED), a nonprofit organization that has raised over $250 million to fight AIDS in Africa.

Unlike the free white reader, Square is charging $10 for each red reader. Square will donate roughly $9.73 from each sale to (RED).

Square hopes to sell more than 25,000 red readers to raise $250,000 for (RED).

Explore further: Uber says outside review shows customer data safe, private

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Payment startup Square rolls out iPad sales app

May 23, 2011

(AP) -- First, mobile payment service Square made it easier for merchants to accept credit cards anytime, anywhere, with just a smart phone and a tiny, plastic credit-card reader. Now the startup led by Twitter co-founder ...

Virgin tycoon Branson invests in Square

Nov 08, 2011

Square, a start-up from a co-founder of Twitter, said Tuesday that Virgin tycoon Richard Branson has invested in the mobile payments company.

Recommended for you

Airbnb to expand tax collection efforts

Jan 30, 2015

Online lodging operator Airbnb is expanding its efforts to collect local taxes, responding to complaints that it competes unfairly with the hotel sector.

Jay Z to acquire Wimp music service

Jan 30, 2015

US rap star Jay Z will make a $56-million foray into the music streaming business by taking over the Norwegian service Wimp, its shareholders confirmed Friday.

How can Google snap its stock out of its stupor?

Jan 30, 2015

Google has turned into a stock market laggard as the shift to mobile devices has lowered the Internet search leader's digital ad prices and the company's expensive investments in far-out technology has trimmed ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.