Square Up The new ecommerce for Iphone and all mobile devices

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https://squareup.com/

Probably the best innovation I have seen since Paypal for doing business. Unfortunately not quite ready for Australia but I am sure it will get here.

This was started by the founder of Twitter and has major backing from Angel investors.

Simple and transparent card fees.

We’re focused on providing the best payment experience in the world, and that includes cost. While taking cash is always free and easy, accepting cards can be confusing and costly. That’s why Square has simple pricing and no hidden fees, monthly charges, or contracts. We’re constantly working with our partners to simplify and lower costs associated with accepting card payments.

Features Square Others
Merchant account required None Yes
Contract required None 1-2 years
Mobile card reader Free $150-$900
Setup Free $0-$50
Monthly fee None $15-$25
Monthly minimum None $25
Card-present (swiped) rate 2.75% + 15¢ 2.9% + 30¢
Card-not-present (keyed-in) rate 3.5% + 15¢ 2.9% + 30¢

Here is another video explaining more.

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Matt Cutts
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