Is Square Going To Stick A-Round?

Submitted by admin on Friday, 1 January 2010No Comment

Iphone Application Credit Card Deal A brand new iPhone app has been rumoured to revolutionize the way we pay for things from now on. What else will the famous and rich apple creators think of next? At present if you wanted to pay for something using your phone, you would have to physically key in all the numbers across your card, and then the security code, expiry date, and so forth and so on. This can be a very tedious task, and if you put one digit in wrong, your card is not processed and you have to start all over again.

The ‘square’ app will lie in a small, plastic card reader that will fit directly into the headphone jack of an iPhone (or iPod Touch). The user will swipe the card and the data will be transferred through your phone’s wireless.

After the correct amount is entered, a signature is required (using your finger directly onto your iPhones screen) and then an email address is required to which the receipt will be sent with a geotag letting you know exactly where the transaction took place.

The payment is processed by Square (a small fee is charged – but it does cut out the middle man – the banks- so it actually saves money if you are a small business) It also will change the way business credit card deals are advertised. The credit card industry should boom, as people will be able to use them in more places, and as more people apply for them, the market should become allot more competitive - benefiting not only businesses but individual consumers.

This app will now allow anyone to process cards anywhere. From your local butchers to the flower stall at the end of the road…..the ability to be able to process credit cards on the go will affect small businesses more than anyone else.

It will be extremely valuable to those who do selling on the go, and apple should make that little bit more money!

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