Per Bert:

I think that the other vendors who want into the payment processing business are going to have to consider the requirements to build a complete infrastructure to offer the service. That is really the secret suace of Square and why it is hard to compete against them-not because they have physically attractive hardware or because that 2.75% rate is easy to understand and consistent.

Square is just at the start in selling analytics-or bundling the service with payment processing and it is really on to something with CRM and campaigns. Almost all merchants need some kind of CRM and that it just not offered by the payment processing offerings of the other vendors. It is the capabilities beyond payment processing that have the greatest potential for this company and the real reason it might get bought by a PayPal.


Sq tam:

Sq identifies tam the same as shop 25-30 m business es worldwide. They have so many levers to pull such as the latest becoming a bank. Future levers might include things like tax preparation. Already sq has a crm available to its merchants as well as a new customer finance program.
The cfo Friar is a real can do.
It is hard to see sq doing anything but expanding and doing so in a spectacular way.

Another lever just now being pulled sq is now partnered w the big website builders like magento, weebly and the fast growing wix to provide e commerce solutions.
The stock has been on an amazing run from 11 to 29 over the last 12 months. And if u believe Bert a heck of a lot more to come.