We're Already Secure

Yesterday I commented on VeriFone's dog and pony show commentary regarding Square's entry into the credit card processing industry.

Today, Square's CEO Jack Dorsey responded in an open letter posted to Square's (far better designed) website.

Our partner bank, JPMorgan Chase, continually reviews, verifies, and stands behind every aspect of our service, including our Square card reader.

JPMorgan Chase is not a stupid company, and I know from former experience dealing with them on privately branded credit offerings that they do not generally give their partners the benefit of the doubt. The continued support of Square implies a substantial amount of due diligence on their part.