ST. LOUIS (KMOV.com) -- Jack Dorsey, CEO of Square and co-founder of Twitter, made a stop in his hometown of St. Louis to launch a new product.
Square, a mobile payment company, unveiled the Square Terminal worldwide Thursday. It can speed up the way you pay with your credit or debit card.
Dorsey stopped by the St. Louis Square offices in Cortex last week to show the product to their employees and St. Louis Mayor Lyda Krewson.
“We intend to replace every single one of those crappy boxes out there,” said Dorsey.
Dorsey is referring to the traditional payment terminal you’ve probably used at an area restaurant or shop. He said they’re typically bulky, dirty and have poor quality screens.
The Square Terminal functions like a smartphone. It can ring up items visually on the screen, is mobile with a chargeable battery and can print receipts.
It can process a credit card payment in two seconds, saving the business and customer time.
“If they’re waiting twenty seconds just to process your payment, that’s twenty seconds where someone behind you in line is like, ‘oh this is taking too long I’m leaving’,” Dorsey said.
Dorsey grew up in St. Louis and his parents still live here.
“I was born right next to the Ted Drewes on Grand. I grew up around Tower Grove Park,” he added.
Dorsey has three Square offices in St. Louis and he hopes to expand by having engineers develop new products in the Midwest.
“Success to me in five years looking out means that St. Louis has built a product, end to end, a service end to end that we can actually launch globally and it came right here from St. Louis,” he added.
Square is based out of San Francisco and has offices in Atlanta, St. Louis and New York, and internationally in Canada, Japan, Australia, United Kingdom and Ireland.