Two weeks after Square launched its product to the country, I got a call from the CEO of one of the largest payment companies in the world. He took me to dinner at some restaurant in New York City where every entree contained at least one word that I could not pronounce. He downed a martini, ordered another, and then spent the next hour telling me what an idiot I was for trying to allow small merchants to accept credit cards. He explained how people like my friend Bob had bad credit, were unreliable, were difficult to support, and were too small to sue if things went wrong.
