May, 11 2010

I often think about what types of apps would be very useful and innovative that could change the way people do things. While we don’t get many of these apps every day, it’s always a great treat when we do. Square is launching their new device and app combo that’ll allow anyone with an Android device (as well as other supported operating systems) to take credit card payments like a traditional retail store would.

You download their app from the market and plug a little square swiper into your phone’s handset jack, and you’re good to go with a mobile credit card swiper. After a user swipes their card, they sign their name with their finger and payment is initiated. The customer can also add a tip (by entering in a percentage or a an exact amount) and it’ll automatically be charged with the payment. You can then request a receipt be sent to your email inbox or as an SMS for your records.

At the end of the day, the merchant will be able to handle their funds (presumably allowing them to receive their payout at that time, as well). It sounds like a great tool for a very small business or for someone needing to accept credit card payments while they’re on the go. They’ve stated that the hardware and software would be completely free to get as many people involved as they possibly can.

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For those of you looking to use this, Square offers a competitively-priced 2.75% + 15 cents for what you’re getting: mobile credit card payments, a nightly cash-out system, and in-depth online access to your history to see what’s been selling. A lot more information can be had by following this link. The program’s already gone through its pilot/beta phases – equipping around 1,000 merchants with the tools – and millions more are expected to be added over the next three months.

You can find this app right now on the Android market by searching Square (currently, you can use a cash-only option). Will any of you be looking to grab this equipment up to use for your day-to-day sellings? [version pictured is for the iPad]

[via Gizmodo]