Square – iPhone Credit Card Payment System
by Sze | Filed under Others
This is the Square, an iPhone credit card payment system that is currently being alpha tested at the Self Edge NYC store. The Square system includes a plastic card reader that is attached to the headphone jack of iPhone or iPod touch and a custom iPhone app.
Credit card’s swipe data is transfered to the app and payment will be processed after customer signed using his finger. Customers email address can also be entered for receving a receipt that includes a map showing the location of the transaction.
[ohgizmo]
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I never really thought of it but it makes sense if its $50. . . Think about it, it doesnt preaccept a set amount before purchase so you could run up over your limit of your credit card. Most likely you will fill up before you hit your credit limit though. Its unlike purchasing goods, you get the total, they run the card and it accepts or declines. The machine is accepting before knowing how much you are going to charge.. . ed9455 – Im sure truck stops have a different system since semis take alot more gas at a time. Preapprove limit may be much higher.