The Square is a device allowing people to pay their stuff using Credit card through an iPhone. Once the Square installed in your iPhone, it will enables a direct credit card swiping which triggering an on-the-spot payment process. This is so easy and that’s mean you have no need to walk your way to the counter anymore!
The Square was developed by Jack Dorsey (Twitter co-founder), nothing cool on the design, but the device allow us to pay stuffs instantly and efficiently. You can check out the following video for more detail:
It is essentially a small magnetic reader that plugs into the headphone jack of an iPhone.
When a credit card (or a debit card) is swiped through the reader, it reads the data and converts it into an audio signal. The microphone picks up the audio, sends it through the processors and then is routed to Square’s software application on the iPhone.
From there the encrypted data is transmitted using either Wi-Fi (for iPod Touch) or a 3G Internet connection to a backend severs which in turn communicate with the payment networks to complete the transactions.