Your iPhone is now… a credit card payment system

Oh my giddy aunt.  I talked before about how the digital applications of phones will increasingly replace the solid hardware we’ve grown up used to…

…I used the example of the iPhone camera apps which replaced the functionality of Lomo style cameras and so on.

Now, via Mark, I’ve just seen Square for the first time…

It’s basically a ‘square’ device that plugs into the standard jack socket of ANY mobile device smart enough, and lets you receive payments for goods or services.  Yeah, I know.  REALLY.



So anyone from a street vendor to a design freelancer has an instant payment system available to them to receive their money. 

Which in turn means everything from the chip & pin systems in shops to the invoice process for freelancers can now change, and be wrapped up in the device folk carry with them anyway.

If this isn’t huge, I’ll eat my hat.

Then buy a new one, from a guy in the street who’s using the system that was even better than Square and hence freed him up to set up his hat stall…