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Square: Jack Dorsey Demos New iPhone Payment Device (VIDEO)

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Twitter co-founder Jack Dorsey has just unveiled his new startup, Square, which offers a mobile payment system that hopes to displace credit cards with payments through mobile phones.

In the video below, TechCrunch's MG Siegler talks with Jack Dorsey, who explains the idea behind Square and demonstrates how it works. (Siegler actually succeeds in buying Dorsey a cup of coffee with the new mobile payment device.)

TechCrunch raves about some of the key features Square offers:

Also note how I can sign with my finger on the iPod touch's screen. And I can request to get a receipt via email, which I enter the first time, but the app will remember every time you come back and use the same credit card. Also coming in the future is a way to send a recepit [sic] to your phone immediately via SMS.

See Square in action below. Read more about Square on its website, SquareUp.com, or on HuffPost here.


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