The new mobile payment device, Square is set to revolutionise how people settle their bills and already has seen high rates of adoption. Created by Jack Dorsey (Twitter Co-Founder) and Jim McKelvey this simple little device makes it easy for anyone to take credit card payments and is designed specifically with the small business in mind. Mr McKelvey, a glass blower and a one time small business owner himself lost potential sales simply because he couldn't take credit card payments. He explained his payment frustrations to Mr Dorsey and together they set to work on inventing this cool little gadget.
Square users register for the free device and once it arrives it simply plugs into the audio jack of an iPhone, iPad or android phone and it is ready to accept credit card payments. The devise does however rely on the internet for functioning, so in poor reception areas this may be a challenge (although they are working on this) and secondly it is only available in the US right now. However if it proves successful in this market there are plans to go global and set to become a standard payment method.