iCharge based in Berlin and London is launching a device which will be in direct competition with Jack Dorsey’s Square credit card payment system.
Similar to the Square the iCharge is a small device that connects to your smartphone and allows you to take payments via credit card very easily. The iCharge system uses SSL encryption and all cards are checked on payment fraud and also attacks the transaction with a GPS location of where the transaction took place.
To begin using iCharge all you need to do is purchase the smart phone card reader and register with the iCharge service. You can then start swiping credit cards for payments with any iPhone or Android Smart phone application.
iCharge is hoping to start trials with selected retailers this summer and be looking to launch to a wider audience in the third quarter of 2010.