eCommerce: bill creditcards with your iPhone

Posted by Stephan Kristyn on February 16th, 2010 / No Comments

With Square you can use your iPhone to bill your friends or clients credit card. In my opinion it is possibly the most useful app I have recently heard of. Watch their demo on Youtube.

The founder of the company is the creator of Twitter Jack Dorsey. Obviously he wants to revolutionize the way we pay our bills. Signatures are drawn by finger. Payment is secured, the credit card information is not getting stored on the phone.

Best of all: they want to give the hardware away for free after you sign up with their online service.

Square says it will donate 1cent of every transaction to charity and there will be no paper-waste involved in the payment process.

Update October 2010
I recently read a tweet of an user experience of paying via Square after a taxi ride. The overall experience sounded very positive.