According to the source, the solution is set to enable businesses and consumers in Mexico and other Spanish-speaking countries to make transactions by turning their mobile devices into a payment-card processing terminal
Clip has created a payment and credit card reader that fits into the headphone jack of an iOS or Android device. To use the device, users need to open a free Clip app, enter the amount to be charged and then swipe the card through the encrypted card reader. Clip asks customers for their cell phone number and sends a 4-digit SMS code (text message) that the customer then enters into the Clip app. If the code matches, the customer signs and receives their receipt via SMS or email.
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