Accept credit card payments with your phone!
How awesome! This is an excellent service for work at home parents, especially those that also do craft fairs and such. Square was founded by Twitter co-founder Jack Dorsey.
When you sign up with Square, you’ll receive a free card reader. Plug the reader into the audio of your iPhone, iPod Touch, iPad or Android and start accepting payments. The fees, compared to other merchant accounts, are very reasonable, only 2.75% plus 15 cents. A number can also be keyed in, as opposed to swiped, for a slightly higher fee. Receipts are delivered electronically either by email or text message.
I don’t think Square will replace Paypal when it comes to online payments, but it does seem much better than the current merchant account options for offline acceptance of credit cards. If you participate in craft shows or other offline sales, I think you should take a look at Square. You could avoid those set up and monthly fees associated with your current merchant account.
Read more about Square at Fast Company:
Square Brings Credit Card Swiping to the Mobile Masses
A Guide to the New Mobile Credit Card Payment System for iPhone and Android