Accept Credit Card Payments On Your iPhone With The Square iPhone Credit Card Application
Posted January 20th, 2010
A new credit card iPhone application allows merchants to charge clients through their iPhone, regardless where they do business. The nifty application was developed by Twitter founder Jack Dorsey and is set to revolutionise the way we do business.
Square, as the new device is called can easily be plugged into your iPhone or any mobile phone with an audio input jack and used to charge credit card consumers for services and products sold to them on the street if you like.
Here is how Square works:
The credit card iPhone application is a small magnetic reader that plugs into the headphone jack of your device.
When a card is swiped through the terminal (the reader) data is read and converted into an audio signal. The signal is then picked up by the microphone and sent via the integrated software application to the Square processor.
The processor will then encrypt the data and send it securely via WiFi or 3G to a backend server which handles the communication with the payment networks.
The device is currently in prototype development stage and when it hits the markets it’s set to take off with iPhone lovers around the world.
To securely process data the credit card iPhone application let’s you:
* Take a picture of the buyer.
* Email the buyer a receipt after purchase has been successfully completed.
* Get the buyers signature directly onto the device.
* Send a map of where the transaction took place.
Just imagine what this could do for mobile business providers worldwide? Suddenly the world is even more your oyster thanks to Square. You can also go to www.squareup.com for more info.
Check out the videos below for the credit card iPhone application:
Source: Gizmodo
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Comparison of our Top Credit Card Offers
| Interest Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual Fee | Cash Advance Rate (p.a.) | |||
|---|---|---|---|---|---|---|
Bankwest Breeze MasterCard | A low interest rate on everyday purchases with a low balance transfer offer | 0% for 6 months (reverts to 10.99% ) | 4.99% for 9 months | $49 | 21.99% |   |
Citibank Clear Platinum Card | A low interest rate offer on balance transfers and purchases | 11.99% | 0% for 12 months with 3% handling fee | $99 | 21.74% | |
St.George Vertigo | An introductory offer on balance transfer and a low annual fee | 13.24% | 0.99% for 6 months | $55 | 21.49% | |
Virgin Flyer Credit Card | Earn 1 velocity point per $1 spent, plus an introductory offer on balance transfers | 20.99% | 1.9% for 12 months | $50 (for first year thereafter $99) | 20.99% | |
Westpac 55 Day Credit Card | No annul fee for the first year with a low rate on balance transfers and purchases | 0% for 5 months (reverts to 19.59% ) | 3.99% for 6 months | $0 annual fee for the first year ($30 thereafter) | 21.49% | |
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