Video: Square’s Credit Card Reader & App In Action
Square, Inc‘s credit card reader for the iPhone and iPod touch has been getting lots of attention since their site was launched last year, and for good reason. It’s still being beta-tested, but when it becomes publicly available, the reader has the potential to allow anyone to accept payment via credit card right from their iPhone. I can see it being used at farmer’s markets, garage sales, small businesses; just about everywhere.
I’ve personally been able to play with the system and it’s just as cool as it sounds; plug a little block into your headphone jack, load up the app, and you’re ready to accept payment by card. Unfortunately the unit I played with was having some trouble, but Kevin Rose got together with the guys at Square to record a full demo of the unit. Check it out below!
The one downside to Square is that, like any other credit card payment system, Square takes a cut of each transaction. We’ve been told it’s around 3%, which is pretty standard.
Oh, and for all you designophiles, the UI is being designed by Robert Anderson and it’s delicious.