First Look: Square Mobile Payment System

Square enables anyone (whether they own a business or not) to accept credit card payments with their iPhone or iPod touch.

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Science & Technology

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[IforgotMyMedication]

So this is totally free including the device what they send you except they take the 3,5% from your payments. Am i right?

[DerekMerdinyan]

@IforgotMyMedication Yes. They may have even lowered the 3.5% by now as more people start using the service.

[realisticHomeboy]

Pointless device.

1 - You could just type in the credit card information manually. It's the same.

2 - It would make WAY more sense to just snap a picture of the front of the credit card, and have the application recognize the credit card number from that picture. All existing and easy technology and no need for extra devices.

[DerekMerdinyan]

Those are fair points. I'm not defending them but I think this is why they created the device:

1). Yes you can, but it's faster to swipe. In a retail setting, some people get nervous when they read their number out loud or if a cashier has to manually enter a number.

2). Snapping a picture is an interesting way to do this. The Square, makes it possible to quickly receive the numbers via a phone, or, in the future, from any device w/ a 3.5 mm jack (no camera required).

[realisticHomeboy]

@DerekMerdinyan

All modern phones have a camera.

[DerekMerdinyan]

True, but not all devices have cameras. iPad, iPod Touch, and even some desktops/laptops.

They may have considered the idea, but I think the 3.5mm jack is more prevalent than a camera.

[janX9]

NON-US CITIZENS!

DON'T WASTE YOUR TIME!

Square is currently ONLY available in the US, and they do not yet know when it will be available internationally if at all.

I got the app from the US iTunes store, downloaded, installed, set up an account, then I went to order my free Square adapter, and found they only ship to the US, and even if you did get one, it does not matter, as Square ONLY accepts US Credit Cards.

Thumbs Up if this saved you the time of finding all this out for yourself :)

[MrTop3selected]

Does the square except debit cards and who pays the fee the merchant or the cardholder?

[TheAppleMicrosoft]

3:30 the ipad has that future, and it should be coming to iphone soon square said.

[moncia87]

Do i have to report any of the payments to the IRS???

[AlejandraB0830]

@ GODLOVEEESYOU

3.5% is like the standard fee from most places (ie ETSY, PayPal) . These things usually cost upwards of $300 too and that sucks if you are a small business owner like myself!!! But I can see your point as well.

[ElectricalGuru]

@realisticHomeboy

Taking a picture of someones card gives the impression that the person taking the picture will be actually capturing the image and thus the card. With a swipe it is more something we are shoppers are accustom to and are more willing to accept. The issue of it being pointless is not so pointless. What would be pointless is if they charged you for the reader...so since they give it away it is pointless to worry about it and enjoy it in my opinion.

[eclecticdreams]

@realisticHomeboy

When you enter in credit card information manually you increase the chance of putting the information in incorrectly. It also increases the chances that the actual credit card was not present at the transaction (ie stolen). Merchants usually pay a larger fee when they enter information in manually than when they swipe the card because of these things. Also, it would be easier for a credit card company to verify an electronic swipe than a photo like you suggested.

[GODLOVEEESYOU]

3.5% transaction fee is freaking expensive !!! Just like Paypal & bank ATM fees ! I'd prefer to buy the device & not have to pay fees ! This will just cause more credit card fraud but it's a great idea though ! :D