Square the “iPhone” credit card payment system, credit card on iPhone

Ever wonder when you are trying to sell that motorbike of yours or those box of cookies every week to the school canteen or sell your stuff at Garage sale but customers don’t have cash and they only have credit card on them.

How do you receive payment in the middle of nowhere with no ATM, you want payment right away, right?.

You know when you convinced yourself to get that iPhone  for the first time. you think, “I own a business and this will be a really handy tools to have, I need it for email, the web, check my eBay listing while I’m  in the coffee shop,.etc…etc..”. You give every possible reason to justify that purchase of the shiny, slick new iPhone, and you are certain it’ s going to be so much help in running your business.

Well here’s another great reason for you to help  finalise that decision, since some of us is still on the edge of yet acquiring the damn iPhone.

Meet “Square” from Squareup , Square is credit card  iPhone Payment system, for anyone who sells anything and want to be on the move at the same time.

Have a look at the Picture and explanation video below.

Photo courtesy of Kevinrose

To receive instant payment:

1. Plug the dongle to the iPhone.

2. Enter the $$$ amount that they are paying.

3. Swipe your customer’s credit card.

4. Customer to sign on the iPhone.

5. Once payment is authorized, you have the options to email a GEOTAGGED receipt and amount and description to your customer. (see photo on the right, sample receipt with map where payment was made)

Money in the bank.

Video courtesy of  Kevin rose.

Now signing up and receiving dongle is free, But there will be a small % fee for transaction under certain amount (maybe similar to what PayPal charge), there is no final figure yet at the time of this post, but you don’t have to pay monthly fee, nor you are tied to the contract with Banks.

so the question is, when this is available, how many iPhones are you getting your employees ?

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