It seems the competition to be Mexico’s Square clone is heating up, with the makers of two Square-like products at each other’s throats — at least online. The Mexican mobile payments product Clip was recently featured on TechCrunch in a story referring to it as “Mexico’s Square Clone.” The story featured good news: $1.7 million in funding led by Mexican venture capital fund Alta Ventures and new features, such as paying by installments and accepting American Express. Clip’s per-swipe charge is 3.6%, compared to Square’s 2.75%. In the comments section, a poster named “Tyler Durden” — a common online pseudonym that is taken from the book and film “Fight Club” — posted the following: Well, I think you have the wrong information, “Square clone” implies a set of features that Clip simply doesn’t have. If you are looking for a “Mexico’s Square Clone,” you need to look no further that iZettle. IZettle has already a strong presence in Mexico with a very good number of affiliated business (almost in the thousand’s, Clip has less than 100 retailers) and is feature-wise [comparable] with Square (Clip has very limited functionality). Presumably this poster is referring to Square’s services such as its mobile [...]
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