Square has decided to throw in the towel on the Square Wallet app it introduced in 2011. Originally designed to help customers quickly pay for items at local merchants using only a smartphone, Square Wallet ultimately failed to catch on. Many people were trapped in routine and kept paying for their morning latte with the regular Starbucks app, never even noticing there was an alternative. With Wallet failing to match the momentum of Squares credit card reader — a proven hit with small businesses — the company is revising its consumer strategy.
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