Small Business Owner Rejoice

By: JP Smith | Published: December 2, 2009

Categories: Mobile, Business

John Dorsey is a co-founder of Twitter, the wildly popular microblogging site.  Not content to rest on his laurels there, he is now pursuing another venture.  The great thing about it is that it's small enough to fit in your pocket yet big enough to change your business.

Dorsey has launched a new application for the iPhone called Square.  Well, actually, it's a little more than just an application.   In addition to the app, there is also a magnetic card reader.  Combined, they turn your iPhone into a credit card payment system.

Now, while this might not be great for every business, it would open great opportunities for small shops, street vendors, etc., who may not want all the overhead associated with other merchant solutions.

As of now, you'll need to go to the company's website to request more details about the service.  Also, in the video below, Dorsey shares more information about Square.