Square: A Credit Card Mobile Payment Solution for Business
By cgull8m
Square is
a new mobile payment solution founded by Twitter co-founder Jack
Dorsey. It offers an alternate and convenient solution for businesses
to accept credit and debit cards via their mobile phone or computers
without paying hefty monthly fees to the payment processing providers.
How it works?
Square
provides a small dongle (through which the cards are swiped), which is
then attached either to a mobile phone or a computer's audio jack. The
buyer's card is processed through the dongle and the information is
transmitted to the Square, which then credits the amount to the seller.
The buyer's identity is verified in the app and then a copy of the
transaction is emailed to the buyer.
Square: How it works
The
current credit card processors charge a monthly fee + a percentage of
each transaction, whereas Square charges only a minimum fee on a
transaction by transaction basis, there are no monthly fees according
to the ReadWriteWeb.com. The fees are not yet available at the Square's website Squareup.com.
Square
is available only on a limited basis for now but will be made available
for others very soon in 2010. The application currently works on
computers, laptops and in iPhone (iPod Touch) only.
With Square, any business can process credit/debit cards anywhere unlike other payment processing systems.
For businesses there is another low cost payment solution, Noca.com,
which processes payments and deducts the amount from the buyer's bank
account and charges very low fees for the sellers. Also, there are no
monthly fees.
A demo of the Square application is given below.
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Apple iPod classic 7th Generation Black (160 GB) (Latest Model) Grade B
Current Bid: $169.99
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Apple iPod touch 4th Generation Black (8 GB) (Latest Model) **NICE**
Current Bid: $90.00
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Apple iPod classic 5th Generation White (30 GB) AS-IS gen5 30gb Video
Current Bid: $27.69
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Apple iPod classic 7th Generation Black (160 GB) (Latest Model)
Current Bid: $209.99
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Comments
Yes, BeatsMe, the street vendors would love this also. I think it is great for small businesses to avoid hefty fees.
I think Square would be the perfect payment solution for small businesses. PayVision.com is another company that offers Payment Solutions worldwide. They have a set of credit/debit cards that are in cooperation with several major European, American and Asian banks. Payvision's payment services accept more than 150 currencies and also offer competitive rates!
The new Square for iPhone is the perfect solution for online transactions. The online payment solutions industry has experienced intense growth in recent years and has become a highly competitive market. PayVision.com is a company that offers Payment Solutions worldwide. They have a set of credit/debit cards that are in cooperation with several major European, American and Asian banks. PayVision's payment services accept more than 150 currencies and also offer competitive rates to customers.
This product should be perfect for small businesses and offer great convenience for customers. The online payment solutions industry has experienced intense growth in recent years and has become a highly competitive market. All the solutions offer benefits that set it apart from the other. An important benefit when looking for a payment solution is whether or not it can be used globally. PayVision.com is a company that offers Payment Solutions worldwide. They have a set of credit/debit cards that are in cooperation with several major European, American and Asian banks. PayVision's payment services accept more than 150 currencies and also offer competitive rates to customers.
BeatsMe 2 years ago
Looks like a handy feature. This should help busy people pay their credit cards easily. :)