Wonder what it would be like after a Digg and Twitter copulation?? Ok, dont stress your minds as we already got the first result of it, The iPhone payment dongle. Square is Jack Dorsey's (Twitter co-founder) new startup that now has Kevin Rose (Digg founder) on board as an investor and YouTube pitch man for the prototype payment device that plugs directly into the iPhone's headphone jack.
Now Square has been discussed a lot of time earlier, but this is the first video that clearly demonstrates the full capability of the credit card swipe system on a live device. A compelling proposition for receiving cashless payments if you're a small business owner looking to exploit irresponsible credit card debt or just the average Joe hocking goods at a garage sale, farmers market, or Craigslist. Assuming of course, Square's cut of the transaction isn't too egregious. The day when you will pay your coffee bills just by swiping your card into the dongle. The world really is moving fast..
Demo after the break.
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