Today's innovation news comes to us from the world of secure & mobile phone payments. Introducing SQUARE, the latest brainchild from Twitter founder Jack Dorsey (@jack).
The device - which is no bigger than a half dollar and plugs into the headphone jack of any smartphone - is a mini credit card swiping machine. Once a card is swiped, information (including a snapshot of the card holder, for security purposes) is sent and displayed on the phone. Payment can then be processed, and receipts send to shoppers via text.
It's a lot like PayPal, except it allows anyone to take a physical credit card charge. A much simpler and cheaper alternative to what's out there now, this is sure to be a huge boost for artists and smaller vendors. For example, I went to a couple of Phish shows over the holiday break, and I love the idea of someday (soon) using a credit card to buy a grilled cheese in the lot!
(via TechCrunch)
