Project Square aims to make your iPhone a Payment system that lets you use the iPhone as a credit card swiping machine. Square is currently in alpha testing. A hardware attachment that attaches to your iPhone’s headphone jack lets you swipe the card, while the software take the input from you on the amount to be debited and allows the customer to sign with their fingers on the iPhone display itself.
The digital receipt generated by Square also shows the location where the transaction was done to help you recall the transaction easily. iPhone is certainly going beyond the boundaries of a normal smartphone!
