Swipe Credit Card using iPhone

What if you could swipe your credit cards remotely? Two new means have emerged so far, which let you do this at convenience of being anywhere in the world.

Last month, Square, the venture from Twitter co-founder Jack Dorsey, added a credit card swipe reader to the headphone port of an  iPhone . And Now, VeriFone announced PAYware Mobile, a combination iPhone/iPod touch app and swipe card reader that will enable merchants to accept and process credit cards on the move.

Payware mobile widget is scheduled to ship in January and will be free with a 2-year contract with VeriFone . The reader is supposed to encrypt credit card data in hardware so that the iPhone never sees the raw card number, and the app will capture signatures using a stylus (at least that’s how it’s illustrated now). Check out the video below for a brief demo.

It should be very interesting to see how these two hybrid solutions make their moves into the payment ecosystem. Square seems to be aiming at more ad-hoc usage (artists, coffeehouses, etc.) for people who don’t have merchant accounts, but VeriFone is all about big retail. More importantly, the backing of VeriFone means this mobile payment peripheral has some pretty important backing and should be able to hit the ground running.

[via]

Though this is good enough, this is Not the Future of payment! What do you think?

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  • j_thorf

    and I must say that the way we do our business took another step forward and I think this will soon revolutionize the way people do business as this technology became more available with a greater variation of mobile phone

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  • Nice information on credit cards.And now a days there are a lot of facilities offering by different banks so that to increase the user rate.And recently military credit cards are offering the best facilities.The best thing about this card is it automatically pays you the rewards in your account monthly without the usual $50 minimum like most credit cards.

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