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Credit card payments 'will be available on the move'

A new payment system is to be launched, which will allow credit card holders to pay for goods using their smartphone, it has been reported.

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10 December 2009

Credit card payments 'will be available on the move' ”

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Founder of microblogging networking site Twitter, Jack Dorsey, explained how the payment system will work at the Le Web 09 conference in Paris yesterday (December 9th).

Called Square, the system involves a small device that is plugged into the smartphone, through which users can swipe their credit card to activate a payment.

Square gives one penny from every transaction to a charity of the credit card holders' choice.

For those wishing to give money to charity when making payments, there is a range of charity credit cards available from MBNA.

There is, for example, the British Heart Foundation credit card, which makes contributions to the charity at no extra cost to the card holder.

No annual fee is charged on the card, which has a typical variable rate of 15.9% APR.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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