Apple is rumored to be ditching its headphone jack in favor of more speaker space on its upcoming smartphone. If that leak proves true, what will it mean for small merchants that rely on Square's mobile card reader, a dongle that accepts credit card payments by plugging into the headphone jack on smartphones?
During Square's Q2 earnings call today, an investor posed that question to CEO Jack Dorsey—but he didn't seem fazed by the potential change.
"One of the reasons we're super excited about [our]contactless and chip card reader is that it works over bluetooth," he said, pushing off the potential problem as an opportunity to up-sell. The new payment terminal accepts both chip credit cards and NFC-based payments like Apple Pay and Android Pay. RR