Tablets get NFC payment system

Tech start-up Square, led by Twitter co-founder Jack Dorsey, has rolled out a payment system for tablet PCs and smartphones that uses near field communication (NFC), reports PC World.

The Square system requires both merchants and consumers to have the appropriate NFC technology to complete a transaction.

The Square system is clearly just getting off the ground, explains Cnet.

Scattered throughout such large cities as New York, San Francisco, and Los Angeles, only 50 merchants have so far signed up for the service.

There are also some limitations. For the system to work, both the buyer and the retailer have to sign up for Square accounts.

According to ComputerWorld, the application can also generate digital receipts, update pricing and maintain virtual storefronts.

The company also unveiled Card Case, an app designed to help iPhone and Android users find local businesses and track and store digital receipts.

The Card Case app also lets users set up tabs for their favourite merchants, making purchasing instant and easy.

Card Case, according to Square, can be activated through a text message invitation from Square after the user makes a credit card purchase at a participating merchant.