Easy Payment System coming soon to your iPhone

Aug

Posted by Cajun

Apps, News, 2G, 3G, 3GS, App Store, iPhone, iPod Touch

Making life easier and more convenient is what the iPhone is all about. For all of you small business owners, or even vendors off the street, the latest rumor of yet another great use for this device is a godsend. Just another reason the iPhone is what it is…the best hand held device ever made.

“A project codenamed “Square” is the brand new iPhone-based payment processing system that’s currently being alpha tested at the also brand new Self Edge NYC. In addition to keeping the process paperless, Square makes check-out clean and easy.

The innovation is in a small, plastic card reader that fits in to the headphone jack of an iPhone (or iPod Touch) and transfers the credit card’s swipe data to the app. After the employee enters the amount to charge, the customer confirms by scrawling their signature with their finger and then either one enters the customer’s email address to send the receipt to. The payment is processed by Square for a small percentage plus a fixed fee; the funds are transferred directly to the store’s bank account, cutting both time and complexity on the processing side. The customer’s receipt includes a map showing the location of the transaction which is handy for those who record, sort and file such things.

While allowing anyone from a hot dog vendor to a bike messenger to process credit cards on-the-go, all we can say at the moment is that consumer to business transactions are just the beginning.”

square-iphone-payment Making life easier and more convenient is what the iPhone is all about. For all of you small business owners, or even vendors off the street, the latest rumor of yet another great use for this device is a godsend. Just another reason the iPhone is what it is…the best hand held device ever made.

While allowing anyone from a hot dog vendor to a bike messenger to process credit cards on-the-go, all we can say at the moment is that consumer to business transactions are just the beginning.”

square-iphone-receipt