SquareUp iPhone Credit Card Payment Concept Ready for Trial [Accept Credit Card Payments from Your iPhone with SquareUp]

I’ve been talking about credit cards and payment solutions lately here on TFTS and I have a feeling I’ll show you even more convenient ways of dealing with money in the future. Today we have a new concept coming from the co-founder of Twitter, Jack Dorsey. SquareUp is the name of the new credit card payment service especially conceived for the iPhone.

With the iPhone being such a popular device is no wonder that so many people are either developing apps or creating accessories for the device. The SquareUp is a startup that’s ready to offer you a new payment concept. In fact the live trial is already underway and we might have a new product on our hands soon.

So what is the SquareUp exactly and how does it work? Well it’s basically an app that will let your iPhone accept credit card payments. Sure you’ll say it’s not the first app capable of doing that but SquareUp has a couple of fun features.

SquareUp doesn’t require a contract or monthly fees. Simply connect the special device to the smartphone by plugging it into the audio jack and you’ll be able to scan credit cards in no time. Receipts can be viewed online and they can also be sent via email. Payments can be verified in real time and Square will even visually verify the account holder for you. Creating a Square account will speed up the payment process and every person will be required to submit a picture of them when creating a new account.

In case you want an extra incentive for trying SquareUp then you should know that for every transaction you make, Square will donate a penny of it to a cause of your choice.

The service will be available at some point in 2010 but we have no pricing details for you. If you own a small business I am sure you will be thrilled to hear about this new concept. SquareUp might just be the solution you were looking for to deal with all those credit card payments coming your way.