ReadWriteWeb

It happens to us all at some point. You're reviewing your credit card statement when you come across a charge or two whose origin is not immediately obvious. Even if the company's name can be deciphered, you still just may not recall exactly what the charge was for.

As a small or medium-sized business owner who does business online, you may not only be on the receiving end of such a mysterious charge, but you may also be a culprit, depending on how your business's name is represented on customers' credit card statements.

Anyone who has ever sold anything online or off knows that one of the biggest hassles is finding and setting up a credit card processor, which can then incur substantial fees.

It was with this reality in mind that TransFS was launched last year. The Chicago-based startup, which recently raised $510,000 in funding, provides a free Web-based tool for comparing credit card processors side-by-side, based on your business's specific needs. The service promises to save companies an average of 40% on processor fees, which can make a dramatic difference for smaller businesses.

Blippy, the controversial site where the over-sharing, Web-connected generation can link their credit cards and share their purchases has just come under fire from numerous tech blogs as it has been discovered that people's credit card numbers are now available on Google.

The site's value has been hotly debated since its launch with some saying it's an incredible recommendation service while others say it's a privacy disaster waiting to happen. Interestingly enough, it was featured yesterday on the New York Times, where that same question was posed to readers.

Yesterday's official launch of Twitter co-founder Jack Dorsey's new mobile payment system was greeted with a lot of enthusiasm. Not everybody agrees that Square's business model is viable, however. Today, we got a chance to talk to Andy Kleitsch, the CEO of Billing Revolution, who didn't hold back in his criticism of Dorsey's plans. According to Kleitsch, Square is going after the wrong kind of customer if it wants to be a viable business: merchants who don't qualify for accounts with traditional credit card processors because the would be deemed 'high risk' by these companies.

Square, a new mobile phone payment system founded by Twitter co-founder Jack Dorsey, just launched its private beta today. Square will give anybody the ability to accept payment cards without having to go through a costly credit card processing service. Instead, Square will give its users the ability to use their mobile phones, laptops or desktop computers to accept payment cards and swipe them with the help of a small dongle that will plug into the computer's or phone's audio jack.