Swipe Credit Cards on Your iPhone, iPad or Android Device
This is cool! A new start-up called Square is offering a credit card swipe device that connects to iPhone and iPad as well as Android phones and tablets. Oh, did I mention the device is free? And their processing fees are very competitive at 2.75% of each transaction, with no monthly fee and no fixed per transaction fee. The traditional credit card pricing model is something like a $15/month fee, plus 25 cents per transaction, plus 2.3% of each transaction.
I haven’t signed up for Square myself, because I don’t need to physically swipe credit cards. But I’ve seen it in action and it’s pretty awesome. This looks like a great solution for acupuncturists who want to accept credit cards in the office. There are no startup costs.