New iPhone Payment System

Self Edge NYC, a New York supplier of denim clothing and other accessories, has launched a new payment system based on Apple’s iPhone. The system is named ‘Square’ and it requires no ink or paper to complete a credit card transaction between a store employee and a customer.

This new payment processing method basically consists of having a small card reader inserted in the headphones jack of your iPhone (or iPod Touch) that will transfer the card data to a specific application on the iPhone. The store employee is supposed to enter the total cost of the merchandise purchased, while the customer adds his/her signature using the touchscreen and an email address as a destination for the receipt (the receipt also includes a map with the location of the transaction).

The transaction is processed by Square which currently has a percentage fee (2.5%) and also a fixed fee of 50 cents per transaction. The money is transferred directly to the store’s bank account. The system is supposedly in its alpha-testing phase, but it seems the majority of people that have used it are satisfied so, should it prove successful once released on a large scale, it might be the start for a whole new experience with credit card transactions.

New iPhone Payment System (card reader): [Link]

 PIC12F675 Magnetic Card Reader (for track2 credit cards ) assembled on pcb

Bernie writes: The PIC12F675 looked like a good match for this project. The pair of 10k resistors on GP0 and GP1 are to allow in-circuit programming via a protoclip. RS-232 levels are generated by robbing the negative voltage from the computers transmit line (which is not otherwise used here), and creating usable signal levels from the device to the computer. For schematics and source codes visit the projects page.

PIC12F675 Magnetic Card Reader (for track2 credit cards ): [Link]



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