Square
Twitter co-founder Jack Dorsey’s Square is, nearly, open for business. Clearly not content with having just one world-changing innovation under his belt, the new mobile payment service lets vendors collect cash from a usual credit card using a mobile phone.
Dorsey demonstrated a Square transaction in a San Francisco coffee house to TechCrunch. The cost of a coffee in San Fran, $4. The ability to pay the vendor directly with your credit card using their mobile phone, priceless.
Square uses a small card scanner which hooks up to a mobile by plugging straight into the audio-in jack. It lets you make physical credit card transaction payments, instantly. Think PayPal but for the physical world. At the moment it works on both the iPhone and Android handsets.
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