iPhone as a Point of Sale Device

I've been urging colleges to adopt a mobile payment system similar to Apple stores. With a few iPod Touches and a couple of these Square Credit Card Readers (only $10 each!) it's time for a mobile payment pilot!
Square’s Disruptive Payment Service About To Get A Huge Retail Boost From Apple:

Mobile payments company Square has landed a big coup—sales placement on Apple’s online store. And we’ve just confirmed with Square that the startup has a deal for in-store sales as well. Apple will start selling Square devices in all of its U.S. retail stores starting this week.

Square offers both an iPhone/iPod Touch and an iPad app which allows merchants to process and manage credit card transactions with a handy little credit card swiping device that plugs into the headset/microphone jack.