A relatively new way to process credit card payments, Square-Up is in use now. It was created by one of the pillars in the Web2.0 world (Jack Dorsey who is the "Twitter creator"). However, will it help or hurt the merchant?

Square-up is a device you plug into a mobile device's USB port to make that mobile device a credit card scanner. But this kind of set-up comes with many security problems and it will cause even more problems with PCI-DSS compliance which anybody who takes credit card payments has to now worry about.