Earlier today Jack Dorsey announced on Twitter that @Square has released its iPhone / iPod Touch / iPad & Android apps to the masses via the iTunes and Android stores.
Square is a simple payment utility that works with your mobile phone. It aims to make credit card transactions an easier task for retailers, as well as individuals…think garage sales, craigslist, etc.
Once you sign up and verify your identity (your social security number is required for this part) you will receive your free reader in the mail within 2 – 3 weeks. The reader, which connects to your phone via its audio jack, is then used when a purchase is ready to be made. To complete the transaction, the card is swiped through the reader. Once swiped, the merchant hands the device to the customer, who is then prompted to sign his or her name using a finger instead of a pen on the touchscreen.
After signing, they are prompted to enter either there cell phone number or email address to finalize the transaction. At this point, one of two things will happen. Either the merchant will be prompted to verify the user is who they say they are by accepting an on-screen prompt showing the purchasers photo (highly recommended), or an email and/or text message will be received containing your electronic receipt.
All transactions are then added to your account, which can be accessed anywhere by logging into the Square website. Once logged in, you will be able to see all of your transactions in one simple view. In this view, you are able to browse photos of every item purchased, read description’s and share with your friends and co-workers. Your transaction data can also be downloaded and viewed in your spreadsheet software.
Square iPhone App Screenshots