Square Expands Mobile Donation Capabilities To All Political Campaigns
BY Sarah Lai Stirland | Friday, July 13 2012
Square, the mobile credit card-reader service for iPhones, iPads and Android devices, opened up its political campaign service to the wider community on Friday after expanding its capabilities.
Square now enables political organizations to authorize multiple staffers to use the service to raise money on behalf of their candidate. Some individuals running for local offices across the country have already been using the service to personally raise money. Square said in its announcement Friday that the system has been set up so that the funds raised would be deposited in campaign accounts the next business day. The firm charges a 2.75 percent fee per swipe for donations made through American Express, Discover, MasterCard, and Visa.
The service has also set forms up so that staff can immediately collect the required donor information during the contribution process to comply with Federal Election Commission requirements. Campaign managers can also track fundraising progress through a dashboard.
President Barack Obama's re-election campaign and Governor Mitt Romney's presidential campaign have both experimented with the system at fundraising events this year.