You are going to carry around an acorn like device for your iphone so you can swipe your buddy's credit card after you lend him money? And if he has his credit

You are going to carry around an acorn like device for your iphone so you can swipe your buddy's credit card after you lend him money? And if he has his credit card why wouldn't he just pay for his tickets using the card? I don't think this product is targeted at peer to peer money transfers for individuals. It's for businesses who want to charge customers. The pizza delivery guy or the taxi driver who, today, copies down your credit card number or "calls it in" for example.