Twitter creator Jack Dorsey new venture
Twitter creator Jack Dorsey unveiled a hot new venture today.
Jack Dorsey, The Twitter creator, gave the first public demonstration of his hotly-anticipated latest venture — a device to allow credit card payments by cell phone — and also revealed that it would be given away for free.
Rumors have been circulating on the Internet since it was announced earlier this month, but little has been known about how it works or who it was aimed at.
More details of “Square” — a card reader which plugs into the headphone socket of most mobile devices — were revealed.
Square, a tiny cube about an inch in length, contains a magnetic strip reader that allows users to swipe and read credit cards, then deduct payment on or offline through a downloaded application that communicates with card issuers in the same way as retailer devices. Customers use their finger on the phone’s touch-recognition screen to sign their name to the transaction.
Interesting…
Fred Lotgering
LotCon Biz Solutions
Tagged with: Jack Dorsey • Square • Twitter
Filed under: Twitter
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Definitely an interesting idea be watching to see how this goes.
Mike Paetzold´s last blog ..WordPress 2.9 is getting closer
Mike is right, is something to keep an eye on. I want to hear a bit more about though. Thanks for the heads up.
Andre Arnett´s last blog ..Do You Walk The Walk And Talk The Talk?
You know technology just fascinates me. It’s amazing what’s available now. I’m not sure I’m ready for that yet – I don’t even get emails on my phone yet. I guess I should get with the times. Very interesting though
Luca Di Nicola´s last blog ..So Many Deals – So Little Time
While this is definitely an interesting concept, it does make me a little nervous as well. Not sure I’m quite ready for this upgrade just yet.
Do appreciate the heads up though as I had not heard about this at all. I must be living under a rock
Brett McEllhiney´s last blog ..Niche Site Club 30 Day $1 Trial is Just in Time For Christmas!
Yes, I saw the demo on TV. Wasn’t immediately impressed, but I wouldn’t mind someone giving Paypal some competition, and if this leads to that I am all for it.
Earl Netwal´s last blog ..What Are The Advantages in Niche Marketing?
My first alarm is based on security concerns – whoever heard of a cell phone with a touch screen that could read a fingerprint to ensure it’s the real owner? If there’s no fingerprint authorization, it seems this will lead to a lot more stolen purses, etc.
Doug Champigny´s last blog ..Shut Up, Buck Up, Buckle Down and Get On With It!
Technology just stays ahead of me. Not sure I am ready to take the risk of using a cell phone to make credit card transactions.
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