Big news overnight is the launch of Square, a mobile app supporting multiple devices that enables anyone to take credit card transactions without the hassle of merchant accounts or complicated fee structures. It’s the brainchild of Twitter inventor Jack Dorsey and with the likes of Buzz Andersen involved, it’s going to be huge. Impeccable website design by Bobby Andersen.
As pointed out in the notes by Max Wheeler and Lachlan Hardy, part of the solution is a physical card reader mechanism that sends magnetic data from a credit card to a supported device through its audio input jack, generating the power to do so from the swiping motion. Clever.
