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Finally! This is a big deal for especially micro entrepreneurs, freelancers, taxis and small shops. Soft PoS will transform their lives as PoS currently requires a separate device either old school or android based with GPRS connection that can be flaky. Will be interesting to see how this takes off in countries where local custom or laws demand a paper receipt.

Merchant acquisition of card payments is a huge business with quite tasty processing fees. I think Apple is on to a winner and I love how they keep adding incremental revenue services on a continuous basis. Many small rivers make a large torrent over time.