Keith Rabois: I Was Excited About Fraud At Square
As a continuation of John Battelle’s argument that credit/debit card payment counts as “checkin,” Rabois explained that there is other data other than what we historically use to prevent fraud that can be used to protect users, including social data from Facebook and Twitter that can be used to verify purchases.
Rabois started to get into an anecdote (which he never finished) about the first fraud attempt at Square, revealing that he was excited about the unique milestone. Why? Well, apparently fraud attempts in the mobile payments world mean that you’re succeeding as a company.
Congrats Keith, we’re so proud.
- Rabois: There’s A 95 Percent Chance Square Will Do Better Than PayPal Financially
- Square Now Processing $1 Million In Mobile Payments Per Day
- Square Raises $27.5M From Sequoia And Khosla, On Track To Process $40M In Q1 Payments
- Square Raising New Round, Joining Billion Dollar Valuation Club
- “Crazy Bob” Gets A Big Promotion: Square’s First CTO