My barber takes credit card payments using the Square reader and his iPhone. I get the receipts via text message. The text messages include a link to the Square site that allow me to create a "Tab" with the barber shop that lets me send payments to the shop from my phone. Square associates a credit card with the vendor and would automatically charge that card when I send a payment to the barber shop.
My question is, is this secure? This seems like a new way of handling payments, so I'm guessing the bad people who want to take my money haven't started chipping away at the system yet. Any thoughts?