The title sounds crazy, isn’t it? but it’s a reality. Now you can literally swipe your credit card on an iPhone and it will allow you to make payment to a merchant. Now if you’re a merchant then this is a great news for you because now you can accept credit card payment without having any extra device. All you need is an iPhone and a small device which is free and explained below! This service is quite an innovative one and the good thing is : It actually works and works in a great way!
Square Up is the thing which makes this idea possible. The application is currently available for iPhone and android. All you have to do is to get a Square Up card reader which is being sent free to whoever signs up for this service. The charges are 2.75% per swipe for Visa, MasterCard, Discover and AmEx and the manually-entered cards cost 3.5% + 15¢ per transaction. It also allows you to link your bank account with it and send payments directly from your bank account. In short, Suqare Up makes each and every payment simple and magical.
Payments can be automatically sent for deposit to your bank account. So, the whole process is quite seamless. Just think, if you’re going to a concert without having any money in your pocket and just a credit card and what if you find a Square Up at the ticketing window? Wouldn’t that be great?
The limitation is that the service is currently available for US only and they’re aiming to expand it real soo. So, what’s your take on this innovative idea? can this make your life more easier as a payer and a merchant? let us know via comments below. Cheers till then.