Twitter’s inventor and ex-chairman, Jack Dorsey has just created another revolutionary product called the ‘Square iPhone Payment System’!
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.
With Square, accepting payments will be faster, convenient and paperless. It will allow anyone from a hot dog vendor to a bike messenger to process credit cards on-the-go. 😎
You can read up more about the benefits on it’s beta web site SquareUp.com.
A demo video of the product can also be seen here…