Square-up the Bill on your iPhone
By David Dorf on Dec 02, 2009
For small retailers, especially those that are mobile or work weekend craft shows, taking credit cards can be expensive and cumbersome. But Jack Dorsey, co-creator of Twitter, has a rather elegant solution that should be available sometime next year. Why not use an iPhone? His company, Square, is working on an iPhone application that authorizes a credit card, captures a signature, and emails the receipt. They even have a magstripe reader that connects to the iPhone.
TechCrunch has been following this semi-secret project, and have posted a video of the application in action.
This sort of approach could help larger retailers with line-busting, parking lot sales, and pop-up stores. Keep an eye on this one.
Update: ReadWriteWeb has an interesting article on this topic: Is Jack Dorsey's Square Going After the Wrong Customers?