Jack Dorsey: Apple Pay is a great experience, Square will fully support it in 2015

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According to CNN, Square plans to support Apple Pay in 2015. Square founder Jack Dorsey confirmed this in an interview with CNN, saying he hopes to help merchants use all forms of payment solutions, including Apple Pay.

Jack Dorsey doesn't think Square and Apple Pay are competitors.

We are not making credit cards or payment devices. We are making "cash registers" that support various forms of payment.

He also said that he had tried Apple Pay and thought it provided a very good mobile payment experience. However, the existing Square Readers on the market are not equipped with NFC chips. In order to support Apple Pay, Square needs to launch a card reader device that supports NFC.

Square is a pioneer in exploring offline mobile payment solutions. With the card reader device and application launched by Square, everyone can accept credit and debit card payments from others with just a mobile phone.

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Square, founded five years ago, was once a darling of Wall Street. However, years of continuous losses and a single revenue model have made industry insiders pessimistic about its prospects. Half a year ago, there was even news that Square's 2014 IPO plan had failed and it was in a dilemma of seeking a sale.

Square is also actively exploring new business models. Its latest move is to join hands with the popular Snapchat to launch "Snapcash", a feature that allows Snapchat users to complete a transfer by sending a message starting with $. The experience is similar to "WeChat Transfer", but the operation process is much simpler.