Square Enables iPhone to Handle Credit Card Purchases

Jack Dorsey, the founder of Twitter, launched the new service named Square (still in beta) that allows you to make or take payments using your iPhone.

All this happens through an accessory able to process credit cards that is connected to the the device.

User just need to enter the amount, the security code and the signature directly on the touchscreen. There are no charges of any kind, except a U.S. cent on every transition, which is donated to charity.

The system is able to display a bill with lots of information: the map, the amount, the number of times that we used this system of payments in that particular store, and much more.

The system is currently being tested in the US. Maybe one day we will all use it everywhere.