Immediately after hearing about square from my house-mate, I figured I would get the free device sent to me. For those of you that do not know what square is, it is a device you plug into the headphone jack of your iPhone that allows another person to scan their credit card. This money will be taken from their bank account and be transfered into yours at a cost of 2.75% of the transaction by Square. However, I did not begin using Square because I was skeptical of giving out my bank account to a company that I had not researched. As time has gone on, I have not heard anything bad about this device and its complimentary App.
In addition, I had read recently that not only is it safe but it is also the most efficient way to transfer money. Whereas some banks take a few days for the money to be transfered, Square is doing allowing your money to be available the next morning. In the article I read, they suggest that Square is actually processing $5 billion in payments per year. This is a 25% increase since March. I think it is safe to say that I will finally download the app and begin using my square device and I encourage others to do the same.