Meet Square, The iPhone Credit Card Processing Device

The new credit card processing iPhone has hit the market meaning that you can now swipe your card on your friend’s phone to loan them some money. Read this article to find out more about this new iPhone feature.

Editors note: This is available for Android as well and although it is a pretty cool advancement, credit cards can be trouble especially the more convenient they become.

If you are looking for a way to get mobile payments then check out the new credit card processing iPhone. The wonders of technology never cease and this is an incredible breakthrough in payment processing.

Credit card processing iPhone

It has long been discussed how actual physical money would some day disappear and be replaced by the almighty plastic. Technical magazines and shows have long predicted a forecast of doom for coins and paper money. We are now in the middle of the information age where physical cash does not have to cross our palms in order to see the rewards of spending money.

The new credit card processing iPhone, called Square, was developed by Twitter’s Jack Dorsey. Right now it is in public beta, and looks good for the future. It is a cool add-on for the iPhone that allows anyone that owns an iPhone to accept payments with a credit card. The concept combines a small card reader with an iPhone application. This is a wave of the future and will be around for many years to come.

Best of all this credit card processing iPhone is available to the general public. There is no need to be a registered company in order to use it. All that is required is an account, a phone and the application. It’s as simple as that.

How it works

If you want to make a payment to someone who has this application on their iPhone all you need to do is key in or swipe your credit card numbers into the phone. You will then be able to write your signature on the touchscreen for verification purposes. Credit card processing has reached a new height with this handy application. Now anyone can accept a credit card, and what does that mean for the future?

There are so many uses for this credit card processing iPhone that it can be mind-boggling. Friends can give money to friends and small businesses can use it to increase their sales for people that like to use plastic only to make a purchase. There are no limitations on what can be done with this new technology.

This is a guest post contributed by Timothy a personal finance writer for CreditCardFinder.

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9 People have left comments on this post

» BucksomeNo Gravatar said: { May 25, 2010 - 05:05:59 }

Pretty cool! It'll be interesting to see if this catches on.
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» TimothyNo Gravatar said: { May 28, 2010 - 05:05:10 }

I think credit card security is slowly improving now with 24/7 monitoring against suspicious transactions and credit card fraud money back guarantees : )

» TimothyNo Gravatar said: { May 28, 2010 - 06:05:56 }

This app should also work on the new Apple iPad

» Jon DeGroffNo Gravatar said: { Aug 24, 2010 - 06:08:49 }

Awesome. Drug dealers are going to love this! Haha…
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Jesse MichelsenNo Gravatar Reply:

Too traceable for drug dealers 🙂

I have really been contemplating using this for selling things on classified ad sites like Craigslist. It's so risky to take checks and even money orders, so to be able to take a credit card payment, instantly, would be awesome. If I do end up using it, I'll have to update you all on how it worked 🙂

» [email protected]No Gravatar said: { Dec 8, 2010 - 08:12:49 }

This is really an awesome technological breakthrough. The convenience this Square iPhone Payment System brings about to businesses or even to small consumers is really a lot to be thankful for. Plus, the app can be downloaded for free! This is indeed an innovative way to let people quickly and easily accept physical credit card payments from their mobile phone. The feature I personally like is it takes finger signatures on the touchscreen, and generates receipts through email or SMS. You can also track your sales through its accounting dashboard. Isn’t that cool?

Jesse MichelsenNo Gravatar Reply:

Ann, it does have tons of cool features.

But PayPal just moved to the mobile phone as well and can be used to bounce money back and forth, as well as generate reciepts. Seeing their huge background in the financial arena, I wonder if PayPal will put a stop to all the other payment apps as they dominate the market.

{ May 30, 2010 - 06:05:35 } Week in Review: Memorial Day Edition

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