Square COO: There’s no value in NFC, and not Square API yet

The COO of Square, a mobile payment startup, talked about NFC's zero value proposition, and claimed no merchant he talked to wants this NFC thingy.

He also said:

But don’t expect Square to be a platform or API any time soon — Rabois said that because they are trying to make the transaction as simple as possible, it might not lend itself to an open API.

So no open API yet as they try to redefine the product.

That is a correct strategy for any product that wants to become a platform/API. Make your product really simple and tuned for the market FIRST.