Square Introduces Gift Cards: The Slow Death Of Physical Credit Cards And …
News from TechCrunch:

When you think about the process of getting someone a gift card, it’s kind of ridiculous. You go to a store, you take out your credit card, pay for it and then hand it to a friend. That’s the gist of it, and it’s a slow process.

Today, payment service Square has introduced a new way to send gift cards, through its Square Wallet app. You can now go through all of the businesses that use Square to process payments, pick the right one for your friend or family member, and then purchase them a gift card of the amount of your choosing.

Best part is you don’t have to go to that physical store or take out your credit card.

It just works.

Here’s a video about the Gift Cards product, which feels very much like an Apple commercial:

The process couldn’t be simpler from within the app:

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12 days of Christmas on the cards
News from Sydney Morning Herald:

Illustration: Rocco Fazzari

People can be generous to a fault at this time of the year, but if you bought all the gifts in The 12 Days of Christmas on your credit card, you would be out of pocket more than $ 25,000 and potentially be paying off the debt for 42 years.

Weekend Money tallied the partridge, the pear tree, the white swans (black ones would have been a lot cheaper), a day’s milking from a farmhand and the services of the Williamstown RSL Pipe Band, among other things, to find out how much the gifts in the Christmas carol would cost.

The carol repeats the previous day’s gifts and adds a new one as each day goes by, but we reckoned no one’s ”true love” would want 12 partridges in 12 pear trees – no matter how much they welcomed your attentions – so we kept it simple (see table).

We then asked financial products researcher RateCity to work out how long it would take to pay off the $ 25,042 total, assuming you had a rewards-linked card (as you would if you went around spending that sort of money) and paid only the minimum required each month.

It turns out, with a card charging 19.42 per cent interest (the average for a rewards card), and a minimum repayment of just 2.35 per cent of the balance (again average), the debt would take 42 years to clear, at a cost of $ 52,650 in…………… continues on Sydney Morning Herald

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