New Service offers iPhone, Android and other compatible cell phone users the ability to charge credit cards on the phone.
Towards the end of last year, Jack Dorsey who is co-founder and chairman of Twitter, launched a new company called square that will allow you to process credit cards on your cell phone. Using a small adapter that fits in the audio jack, anyone can now swipe a credit card and accept payments.
The software makes it super easy to charge a credit card on your cell phone and you can even send an electronic receipt via email once the charge is complete. It also has a system for payer photo verification, and allows the customer to sign their name on the screen. The company will donate a penny of every transaction to a cause of your choice.
This can be useful for street vendors, farmers markets, garage sales, and many other situations when you need to accept a credit card on the fly.
The latest development is that Kevin Rose, co-founder of Digg is now an investor in the company. You can see him demonstrating the system in his YouTube video below.
Let us know what you think about this in the comments section.
