Haven’t you always wished that there could be someone out there with a sense of humor who could snap their fingers and make it possible for every average Joe on the street to pay and get paid with credit cards? Who was it that ever said that only merchants and businessmen could process credit? What makes the common man on the street less worthy? Well, someone just did snap their fingers. Let’s see how it works out that Everyman can accept credit card payment just the same as cash.
It’s only actual businesses that can buy vcc process credit cards; it’s just the way the world works, everyone says. It’s a wonder no one ever thought of this question before, and it’s a bigger wonder that it wasn’t PayPal that came up with an answer first. Actually, if there is one substantial reason to point to for why cards never became personal like that, it’s that processing credit cards usually, can be such a tough quagmire of red tape that only businesses with someone sitting there with a pencil in his ear writing up accounts can equipped to handle. But here is the workaround – a startup company called Square, founded by Twitter’s Jack Dorsey, is going to make it possible for anyone to accept credit card payment and receive money on their credit cards.
The system is a tiny credit card reading device to plug into your smartphone, slate computer or iPod, called the Square Up. If you were a business trying to accept credit card payments from your customers, you’d have to buy one of those terminals that could set you back $500, and you’d have to pay all kinds of fees to keep it going. Most people who are aware of how expensive it can be to begin to accept credit card payment wonder what the Square Up is going to cost. Actually, it doesn’t cost anything. You get the equipment (if you can call that sliver of plastic all of one inch, equipment). You get it for free.
As you might guess, what Square makes out of the deal comes later, as commission each time you use the system – something in the neighborhood of 3%.If you would consider it, that’s a good deal compared to what commercial card readers cost to use, that commercial establishments might switch to Square Up before you do.
No matter what you’re doing, paying the paperboy or accepting $20 from a friend for a drink, you can just swipe a credit card, have the loaning friend sign on the touch screen of your phone, and you’re done. If you don’t want to fuss with a card reader, just tapping in the number into Square Up’s app on your phone should do the trick just the same. If you run a small unorganized business, you can even use the Square Up iPad app to run a virtual inventory. You’d see a store on the screen with things on the shelf and a tag dangling off each.