Its real folks! iPhone now has a credit card reader

There was an idea of an accessory for the iPhone to read credit cards and now a store in New York is actually testing such a credit card reader for the iPhone. The Self Edge Store in New York is using a small credit card reader that plugs into the iPhone jack where you would normally plug the headphones. You have to type in the amount that you need to pay using the iPhone credit card reader application. Use your finger for signature and type in the email address where the invoice has to be sent. The payments are processed by Square. It really sounds like a great solution for both buyers and sellers. It is paperless and the receipts also show the location on the map where the purchase has been done. The credit card reader is really small which makes it really easy for you to carry for your distant business meetings. But we still don’t know when this reader will be widely available.