iPhone Now a Credit Card Reader

New hardware just approved by Apple could be of great benefit to any businessperson who owns an iPhone.

Twitter co-founder Jack Dorsey developed “Square,” which plugs into your iPhone’s headphone jack. It’s a reader that lets you accept credit card payments. Just swipe and go. The device has great potential for street vendors, door-to-door salesmen, or anyone who doesn’t have a desk and a traditional credit card reader. That buddy of yours who has owed you $20 since Super Bowl 2007 no longer has the excuse, “I don’t have any cash on me.”

The Square app can be downloaded from iTunes. The hardware can be purchased at Square’s Web site.

Apple also approved a device that plugs into the bottom of your iPhone and serves as a universal remote control for your TV, cable, DVD player, or other home electronics. L5 developed the remote, which sells for $50 at the L5 Web site. You’ll soon see it on Amazon.com and other retail sites as well.