PHONE: 212.797.1000

NEWS: Spring 2015

Spring 2015

Last week in Las Vegas, First Data unveiled Clover, a wireless, tablet-based Point-of-Sale system. Fully equipped, forward thinking, and ultra durable, it was a signal that the 45-year old payment processor is still number one for a reason. Unveiled in private the night before the official release, CEO Frank Bisignano oohed and aahed the crowd with the new gadgetry. First Data might not be the most talked about company in payment processing circles, but they’re probably the most respected.

In the 21st century rush to marketplace domination, the modern entrepreneurial slogan is adapt or die. But the aggressive tech crowd often misunderstands who that applies to. In the case of Square, a payments industry newcomer and First Data competitor, their company is less a business than it is a cultural movement. In 2012, Square CEO Jack Dorsey communicated Square as being something even bigger, a revolution.

Adapt or die has been a cornerstone of the Square revolution, but the question remains, is it everyone else that needs to adapt or is it Square? Earlier this year, The Wall Street Journal reported that Square 

"If I accept you as you are, I will make you worse; however if I treat you as though you are what you are capable of becoming, I help you become that"

- Johann Wolfgang von Goethe