Rachel – Day 163

30 Sep

The News: You Can Pay Your Lawn Guy With A Credit Card. A company called Square (Chief Executive being the co-founder of twitter, Jack Dorsey), has invented a device that you can attach to your iPhone, iPad or iPod which allows you to receive payments from people via their credit card. So if your lawn guy has an iPhone and the device, you just swipe your credit card on his phone, sign and give your email and a receipt it emailed to you for the transaction.

If you have a garage sale, your customers can purchase anything with their credit card. If you own a small business, this could be your credit card machine.

There are no monthly fees, just a 2.75% charge on the total plus $0.15 on each transaction which is significantly cheaper than what merchants pay.

(http://www.nytimes.com/2010/09/30/technology/personaltech/30pogue.html?pagewanted=1&_r=1&ref=general&src=me)

My Comments: I like it! Great minds 🙂

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