14 Sep '12, 11pm

How to use Square to accept bitcoin #bitcoin

The banks are turning into formidable competitors: Now with your consumer U.S. Bank account you can accept a check from a business or individual, scan it with your iPhone (or PC based scanner) and the check is deposited immediately. The check can then be archived or destroyed. This is called Remote Deposit and Mobile Remote Deposit. http://www.netbanker.com/2011/03/us_bank_launches_both_pc_and_mobile_remote_deposit.html The charge is $0.50 per check. This might be something useful to a trader who wishes to accept a check in-person in exchange for bitcoins. Remote Deposit is still not an irrevocable payment method however, whereas bitcoin transfers are irrevocable so trust will remain a factor when transacting with checks. This type of service had already been available to JP Morgan Chase bank customers (iPhone only, not PC scanner) and to some customers of USAA bank (mobil...

Full article: https://bitcointalk.org/index.php?topic=2732.msg843575#ms...

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