Square takes philanthropic swipe with red reader

February 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: Payment startup Square rolls out iPad sales app

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

November 8, 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

Dutch create world's largest man-made wave

October 5, 2015

In a country where most people live below sea level, studying the oceans is a matter of survival. Now Dutch scientists have created the world's biggest man-made wave in a bid to prepare for the worst.


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.