The Square-Latest Invention by Jack Dorsey

Square-Payments

Jack Dorsey, the co-inventor of Twitter, is promoting his latest invention called the Square.

The square is a small plug-in attachment to your mobile phone that allows you to receive credit card payments.

The idea originated from Dorsey’s friend Jim McKelvey who was unable to sell some glass work to a customer because he couldn’t accept a particular card being used.Accepting credit card payments for something you’re selling isn’t always easy, especially if you are mobile like a tradesman, delivery service or a vendor at a trade show.

 

square

 

 

This latest invention uses a small scanner that plugs into the audio input jack on a mobile device.It reads information on a credit card when it is swiped. The information is not stored on the device but is encrypted and sent over secure channels to banks.It basically makes any mobile phone a cash register for accepting card payments.

As a payer, you receive a receipt via email that can be instantly accessed securely online. You can also use a text message to authorize payment in real time.

Retailers can create a payer account for their customers which accelerates the payment process.

For example, a cardholder can assign a photo to their card so their photo will appear on the phone for visual identity confirmation. Mobile devices with touch screens will also allow you to sign for goods.

There are no contracts, monthly fees, or hidden costs to accept card payments using Square and it is expected the plug-in attachment will also be free of charge.

A penny from every transaction will also be given to a cause of your choice.

Square Inc. has offices in San Francisco, Saint Louis and New York and is currently beta testing the invention with retailers in the United States.

This Article is published from Latest-Inventions.

 

Lenovo, Google join hands for Project Tango

collage_660_010816050606

collage_660_010816050606

Chinese computing firm Lenovo said on Friday it has partnered with Google to launch a new smartphone that can see and map out surroundings with help from the US-based company’s 3D technology named Project Tango.

 

To be available in summer 2016, the new smartphone turns the screen into a window that can overlay digital information and objects onto the real world.

 

Google’s Project Tango is a technology platform that uses advanced computer vision, depth sensing, and motion tracking to create on-screen 3D experiences, allowing users to explore their physical environment via their device.

 

“To break new ground in today’s hypercompetitive smartphone and tablet industries, we must take innovation risks it’s the only way to truly change the way people use mobile technology,” Lenovo Senior V-P and President Mobile Business Group Chen Xudong said.

 

Together with Google, Lenovo is breaking down silos by working across mobile hardware and software, he added.

 

Interestingly, Lenovo had acquired Motorola Mobility from Google in late 2014, though the Internet giant retained the mobile firm’s Advanced Technology and Projects (ATAP) group.

 

As part of the partnership, Lenovo is also inviting developers to help grow the budding Project Tango app ecosystem.

 

Developers can submit their Project Tango app proposals to win funding and getting the app featured on Lenovo’s upcoming smartphone. The submission period closes on February 15.

 

Johnny Lee, Project Tango Lead at Google, said that by working with Lenovo, Google will be able to make Project Tango more accessible to users and developers all over the world.

This story is original from businesstoday.in.,We don’t own any copyrights of the article.

Insurers brace for the self-driving future and fewer accidents

50529624

50529624

NEW YORK: As autonomous driving technology advances, perhaps the most notable benefit is the promise of a striking reduction in accidents. But fewer accidents will, according to a recent report,turn the entire auto insurance industry on its head.

 “We think that over the next 20 to 25 years, the number of accidents will fall by 80%,” said Jerry Albright, principal of actuarial and insurance risk practice at KPMG, the consulting firm that released the report. “From a consumer perspective, this is a very good thing. You’ll see improved safety, fewer deaths.”

 

At Progressive’s investor relations meeting in 2013, John Curtiss, the company’s auto products development chief, said the industry had grown 90% over the previous 30 years, mostly because more vehicles were on the road. More recently, Albright said that most insurance companies had problems turning a profit over the last six years and that the changes autonomous vehicles would bring were sure to make profitability more elusive.

 

At risk is the lifeblood of the industry — $200 billion in premiums that the insurers collect every year from policyholders, KPMG says.

 

According to KPMG’s report, the insurance industry could contract by as much as 60% by 2040 as accident damage payouts and premiums fall.

 

Even Warren E Buffett, whose Berkshire Hathaway conglomerate owns Geico, has said that widespread adoption of autonomous technology poses “a real threat” to the industry.

 

“This technology will be disruptive to the insurance industry,” Albright said. “There will be winners, and there will be losers. There will be fewer companies than there are today. But the question is, Who will survive?” It could even result in fewer cars for companies to insure. A recent report from Barclays Capital said that autonomous technology would lead to a 40% decline in sales and a 60% drop in the number of cars on the road.

 

Already, the changes are happening. Devices like automatic braking, adaptive cruise control (it adjusts the car’s speed to match that of the traffic ahead) and sensors that automatically keep the car from drifting outside a lane are available. And this does not include the fully autonomous cars that companies like Google and automakers have been testing for years.

 

Insurance companies have, accordingly, been examining potential changes to the current business model. KPMG’s report envisions a future in which insurers will depend more on commercial accounts for revenue as companies offering ride-sharing and mobility on demand become more prevalent.

 

Individual policyholders will decline as households get by with one car, or no car at all. And as the cost of covering losses declines, so will the premiums insurers collect.

   

                           

Top takeaways from Sundar Pichai’s India visit – Wi-Fi at railway stations soon,

sundarpichai_big1

sundarpichai_big1

Train 2 million Android developers

Google said that will also train 2 million Android developers for a period of 3 years across 30 universities in India and will work with the National Skill Development Corporation of India.

Google Maps Offline Local Guides

Google Maps now supports turn by turn navigation in India, even without an Internet connection. Google also said that it would help more businesses come online by getting them to list on Google Maps. Google says that India now ranks third in terms of local guides on Google Maps.

Project Loon

Sundar Pichai, during his visit met the Communications and IT Minister Ravi Shankar Prasad to start the pilot testing of ‘Project Loon’ in India. The government has in-principle agreed to the project and state-run BSNL will help it take flight in India.

OnePlus X to start with its Open Sale from 10 Dec onwards

OPX

Chinese smartphone maker OnePlus has announced that its first open sale for the OnePlus X will start from 12am on 10 December. The OnePlus X Onyx variant which is priced at Rs 16,999 will be available on Amazon, the whole of 10 Dec and customers can buy it without any invite.

 

OnePlus-X-4-624x351

 

OnePlus X also comes with special insurance offerings which is in partnership with Europe’s leading customer care partner called B2X.

OPX

The OnePlus X is the first ‘Make in India’ device for which local production will start in Hyderabad. In terms of specifications, the device will sport a 5-inch AMOLED display offering a resolution of 1080 x 1920 pixels. It will be powered by Qualcomm’s quad-core Snapdragon 801 processor clocked at 2.3 GHz. The OnePlux will have 3 GB RAM. It will include an internal storage of 16GB, and can be further expanded up to 128GB via a microSD card.

The devices will sport a 13MP rear camera along with a 8MP front facing camera. The device’s autofocus allows you to capture your subject in 0.2 seconds. The dual SIM smartphone will include a 2525mAh battery. The OnePlus X will run Oxygen OS based on Android 5.1.1 Lollipop.

Source – Firstpost