There is a interesting device I saw that allows you to virtually accept payments anywhere. Square, which launched late last year from Twitter co-founder Jack Dorsey, is now offering a way for anybody with an iPhone, iPod Touch, iPad, and Android device to accept credit card payments for less hassle and fees than before possible.
This could be a big thing for local businesses or even garage sales.
Just as Paypal or Ebay has changed the ability to conduct commerce with individuals I believe this could be one of those types of technologies. It has a few hurdles to get over. First you have to have a device that plugs into your phone. Which isn’t a huge problem as they are giving these away for free when you sign up. Also it might not be Square that figures this out. Maybe they had the idea but someone else will implement it better.
Next is trust. There is a deeper trust involved when you take out your phone and ask for my credit card. Especially if I have just met you at a garage sale or calling to buy your couch on CraigsList.
Also the limitations on not being able to handle refunds or delete transactions. I’m sure this is something that will be worked out but is something that I know will come up.
Here is a video recap below: