Earlier, you may have seen the cool demo about Square’s iPhone app that turns your iPhone into a mobile payment system. With a little plastic magnetic card reader attached to iPhone?s audio input jack, you can use the iPhone to swipe credit card and process the payment. Everyone who has seen the demo said it’s awesome. That’s a really cool idea and lets every business (no matter it’s big or small or even personal) to accept credit card payment anywhere.
At the time we covered the demo, we did not know about the public release date of the app. As reported by iPhone Alley, Square Inc. has publicly announced the Square app will be available in coming summer at Macworld, which was held last week. Along with the announcement, the company is now offering a pilot program that you can sign up as a tester of the application. The system is still under test and hopefully it can be released as soon as April.
So, how much will the Square app charge? The app itself will only be sold at US$1 with the card swiper bundled for free. For each payment, however, a transaction fee of 2.9% will be charged. Best of all, you do not need a special merchant account to accept the credit card payment, as the company claimed.
The company also published a new video to demonstrate the Square app. If you do not know how Square app works, remember to check out the video. Even you have seen other demo videos, this one is still cool to watch and show you how you can apply for the pilot program.
To me, it’s really an innovative and cool. It will be a killer app for small business and those mobilize merchant with a need to accept payment anywhere. So, what do you think about Square app?