[Software/App] Square credit card reader: iPhone as a Credit Card Terminal

I have to admit that the first time I saw this information on my source, I was instantly love where this is going. So the Square Credit Card reader is an app that allow you to do credit card-based transaction via your iPhone, and the iPhone is used as the mobile credit card terminal. Wow, isn’t that interesting? Just imagine doing business on the go and accepting credit card payments when you are on the road….

That’s the good news, the bad news is that the app is still in its early alpha testing stage so we have to be patient a while. So the system works like this: A dongle which will serve as the card reader can be attached via the headphone jack while its corresponding app will allow you to enter the amount to be paid, and the buyer can also enter his/her signature here.

Then the buyer will get the receipt emailed to him/her in real time, adding geotagging to record each transaction. And just like many credit card payments, there is a surchage. This app is likely to work on any iPhone, including iPhone 3G and iPhone 3GS, and I bet it will be a big hit!

[via]