Square Has Its Say on Company 'Myths'

Using the format of a Top 10 list, Square Inc. attempted to set the record straight on various perceptions of its business that it insists "are totally bogus."

The list, presented in a blog post, came shortly after Amazon.com launched its own Square-like reader, called Amazon Local Register. Amazon's marketing emphasizes its device's stability, its pricing and access to customer service. During a promotional period, Amazon's fees

Square's post defended its fee structure and emphasized its security (years ago, rival payment technology vendor VeriFone launched a marketing campaign attacking Square's security, and Square quickly updated its device to add encryption).

Last month, Square announced it would launch a chip-and-signature version of its card reader in 2015.

Square also referenced its capabilities for larger merchants, which it has been aggressively trying to woo through the launch of new services.

In addressing past rumors that the company was struggling financially and seeking a buyer, Square said, "we're here for the long term." It was an identical statement Square offered when The Wall Street Journal reported in April the company was in acquisition discussions with Google.