This is really cool.
Even if it's not necessarily unique.
The idea is this: you sign up for an account. The company, Square, sends you a FREE device capable of reading credit cards. Then, you can use the device and your iPhone to accept credit card transactions. Pretty nifty. Square takes 2.75 percent of the transaction plus 15 cents. Not too shabby, especially considering that using the credit card's vendors typically charge even a little more than that. The only catch is that there is a limit - $100 per day and $700 per week.
I hoping this works really well (and forces credit card companies to find a new way to make money).
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