Square Payments Coming to a NYC Taxi Near You
30 select New York City taxi cabs will be outfitted with the low-cost credit card processing system, Square Payments – or known simply as ‘The Square’. The New York City’s Taxi and Limousine Commission just approved a pilot program to issue the selected taxi cabs with iPhones with Squares attached (pictured below) for patrons of the taxis wishing to pay using a credit or debit card.
The Square is a small magnetic card reader designed for smartphones and tablets fitted with a 3.5mm headset jack (TRRS; three lines) and have internet access at the point of sale. Square’s have become quite popular among small businesses due to the low cost of operation. Both the Square card reader and app are free, and the processing fee is flat-rate at 2.75%.
If you haven’t looked at the Square, check it out: https://squareup.com/
Source:
http://www.theverge.com/2012/3/1/2836354/square-new-york-city-taxi-program-approved
