Square: Credit Card Payment Processing On iPhone
This creepy infomercial demonstration of Square credit card processing by Kevin Rose (Warning: Disclosure that he is an investor in this doesn’t come until the very end) looks pretty interesting. I’m not sure what the fee is to process a card (The site claims there’s no monthly fee or contract so I have to imagine the per charge cost is rather high) or how quickly you can access funds. This seems to be one step higher in convenience than Paypal (which also offers credit card processing though it only occurs via the web and with a $30 per month fee).
I’ll reserve judgment until I see what process is in place to combat fraud (think of how easily this could be used by an unethical waiter or waitress one night to quickly capture a restaurant goers charge card twice for example) .
Square via Kevin Rose
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