Credit Card Payments via iPhone?

[3113]

Full story here.. It's about a device called "Square" which lets anyone accept credit card payments using an iPhone.

...Square...will let anyone with a cellphone or iPod become a merchant and accept credit card payments. Square is a small plastic device that plugs into a gadget's headphone jack. Buyers swipe their credit cards through the machine, which then transmits the payment data to an application running on a connected iPhone or iPod Touch. (Android and Blackberry apps are in development, and computer software will be available later.)

You don't have to have the Square gadget or app to pay. You just need a credit card and an e-mail address to receive a receipt...Once the company begins ramping up hardware production, you'll be able to sign up for an account, enter a shipping address onto the site and receive a device in the mail. Like PayPal, profiles are tied to a bank account.

Dorsey envisions the service replacing virtually every cash transaction. Let's say a friend owes you $30 for dinner last week, but there's no ATM in sight. Grab the Square device from your keychain, plug it into your phone and tell him to pay up....The payment system is secure, Dorsey said. Transactional data is safely encrypted, and the credit card info is never stored on the device, only passed along, he said. Signatures are drawn with a finger on the touch screen.

Buyers with a Square profile can set their photos to display on the vendor's screen to thwart identity thieves or daughters with a penchant for "borrowing" plastic. (It won't stop your twin sibling from charging things to your card, though.)

Hmmm. Whadda think?

 

[Freefall_mc]

Full story here.. It's about a device called "Square" which lets anyone accept credit card payments using an iPhone.


Hmmm. Whadda think?

Umm, no. That was easy.
I'd rather window shop. Like, as in newest av.

 

[voluptuary_manque]

UPS will love this. And any craftworker who has a garage shop. And naturally, the sex workers will jump on this one. My own agenda is that people who really like to shop are behind the power curve. Solid stores are obsolete these days. E Commerce rules!

 

[jomar]

The fees, what are the fees? Sounds cool, though.

 

[3113]

And naturally, the sex workers will jump on this one.

Oh! Brilliant! If this doesn't put an end to laws against prostitution, I don't know what will.