Article
• June 7, 2010
Accept Credit Card Payments Using Your Smart Phone
Take care of your business anywhere with Square
You’re out to dinner with friends and you agree to charge the meal, assuming everyone pays their share to you in cash. Great in theory, but there’s always one dude who promises to pay you later, but never does.
If the above scenario sounds familiar, try Square, a new mobile app that allows you to instantly accept credit card payments with your iPhone, Android phone or iPad.
After signing up for a free account and providing your personal information (Square requires a Social Security Number and checking account), enter your address and Square will send you a credit card reader for free. This a small plastic strip about the size of a square of chocolate that plugs into the audio jack of your device.
From there, download the free app and swipe away.
There’s no contract, no monthly fees, and no minimum usage required to use Square. Instead, you’ll pay the company a small percentage of each transaction (2.75%, plus a 15 cent fee).
In terms of security, the app exceeds industry standards and compliance requirements. It even includes photo verification, so you can make sure the person paying is actually the cardholder (more useful for small businesses, but you can never be too careful, even among friends).
Getting paid has never been easier.
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