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Square Debuts Mobile Payment System on iPad, iPhone and Android

Square mobile payment system
The Square hype started back in December when Twitter co-founder Jack Dorsey announced a new mobile payment system. It lets any business plug a small box into a mobile device's headphone jack for fast, easy swiping and payment. Receipts, signatures and accounts are all handled and stored electronically. Square is finally going live today for businesses and customers who use iPhones, iPads or the Android OS (register here). Because the hardware plugs into a headphone jack (nearly universal on gadgets these days), desktop, BlackBerry, Symbian and Windows Mobile versions are on the horizon.

Square will offer the card reader and software for free to anybody who signs up, but businesses will pay fees beginning at 2.75-percent, with a 15-cent surcharge on each transaction made with Square. We're anxious to see how many businesses decide to use the mobile payment system. Ditching paper receipts and records sounds great, as long as our privacy is kept intact. [From: Engadget and Square and New York Times]

Tags: android, ATM, cellphone, commerce, ecommerce, ipad, iphone, jack dorsey, JackDorsey, mobile payments, MobilePayments, money, shopping, smartphone, square, top, web

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