Square, Inc. is changing how monetary transactions happen. They are distributing a headphone jack input and an accompanying iPhone app which enables users to collect credit card payments with their device. While the technology is new, it has the potential to change how business is done. Since the company is distributing the hard and software for free (they do take 2.9-3.5% off the top of transactions) anyone or any business with a compatible device can not only accept credit card payments but do so anywhere with cell phone service or Wi-Fi.
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