Square Payment System Beset With DelaysS

Square, the super-cool payment system that lets you collect peoples' credit card dollars on your smart phone, is delayed indefinitely while the company tightens various infrastructural screws. CEO Jack Dorsey admits they rolled features out "before they were fully baked."

In an email to users, Dorsey said that the company is delaying shipments of the Square dongles while the company refines aspects of their credit processing infrastructure. Finding the balance between convenient personal credit card payments and secure personal credit card payments is a tricky one, no doubt, and Dorsey admits that they might've jumped the gun a bit before making sure their system was risk- and fraud-free.

Here's the email:

Dear Square user,







Jack Dorsey
Square CEO

It's good that they're squaring up to these issues rather than sweeping them under the rug. I've used Square a few times recently and it is pretty amazing to see it in action—it's a great idea and and a well-executed one, but "better safe than sorry" certainly applies here. [TechCrunch]