A couple of weeks ago we told you that this year, the iPhone will transform itself into a credit card reader. One of the products that will help this process evolving, is Square – a twitter-flavored product.
iPhone Payment System
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Twitter Founder, Jack Dorsey: The Man Behind Square iPhone Payment System
Plugging into the headphone jack of either an iPhone or iPod Touch, the dongle takes a swipe of your card, the seller enters the purchase data and you do your best penless John Hancock on the touchscreen. After that, a receipt is delivered by email and the app retains geotagging data for each transaction.