Techno-News Blog

February 24, 2011

Smart Phone – The New Money

Filed under: Uncategorized — admin @ 12:28 am

by Technology Review

Square, founded by the creator of Twitter, lets people accept credit cards with their smart phones. That innovation could transform transactions in surprising ways. Square’s innovative payment system eliminates all of this: there’s no credit check, no hardware costs, and no fixed costs. For any transaction, Square charges 2.75 percent plus 15 cents, a blended fee from which it repays the card companies and earns its profit. That’s it.

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