If you have ever decided to accept credit cards you know the issues. Essentially you are bound by old school regimes which make you sign a long term contract with them, purchase or lease equipment and more. It was about time someone made a simple to use device and removed the painful activation process to dis-intermediate the market.
So along comes Square which is perfectly named due to their device being a square apparatus. This device allows you to accept payment anywhere. I ran across the company when I noticed Square Inc received funding. One of the investors was Kevin Rose and he recently posted a video about it. You can read the site for more detailed information, however this video is a nice short explanation of how it works and the unique features.
Plug In Swipe Device -“Square”
Take a look at the image on the right. Their device is really that elegant. you simply plug it into your phone and launch their application. As Kevin mentions, example in the video, you could have all your amazing stuff (crap) in your driveway for a Saturday sale. Then when someone does not have enough cash to buy that incredible stain filled couch of yours you can accept their credit card. It allows you to swipe their card, have them sign, and provide a receipt. You can also take a picture of the item sold as well as the person using the card. It will email them a receipt and also through the GPS of the device record the location. What great fraud protection features.
In my opinion this is quite a game changer for credit card processing. Well done.