How square are you?

Talking with my friend today in the office, and he was telling me about how Square, you know, the credit card slider for mobile devices and tablets? Well there is also an app for your personal device that allows you to open a tab for businesses that use the Square. When one is in the vicinity of the business with their smart phone, your tab is enabled, and instead of using cash, debit card, credit card, or any form of payment, the cost of the purchase is added to your tab. Crazy right?

Personally I'm not the best with budgetting my money and tend to go crazy with my debit card after pay day, so I don't think that this is the best option for me, with the temptation to buy something being so high, but this seems like a great idea for anyone that frequents a business in your local area.