Twitter co-founder Jack Dorsey announced his new company in appropriate fashion: with a tweet on the network he created in 2006. His new company, Square, allows merchants and individuals to accept secure payment from credit (and other) cards using a mobile phone.
According to Square’s website, payees can start accepting payments via Square in under 60 seconds, with “no contracts, monthly fees, or hidden costs.” The company donates one cent from every transaction to the charity of the payer’s choice. In order to streamline the process, payees can register for Square and upload a photo, so that payees can verify that you are who you say you are.
Given below is a CNBC Interview with Jack Dorsey, founder of Twitter who explains what Square is about and demonstrates how this credit card swiping system works
Link To Video