Chapter Twitter mobile phone turned on cash register
Jack Dorsey, author and director of Twitter, restored site of its new venture Square.
It says The New York Times. The idea of this project is to using a small device, a scanner to convert to cash a mobile device that accepts payments from credit cards.
Anticipated that the first service interested private entrepreneurs, which is unprofitable because of high rates of companies servicing credit cards, accept electronic payments from customers. Jack Dorsey promises that the monthly fee for using the Square will be much lower, although long and does not specify how it is.
Service will support any device with audio input and output to the Internet (in those tested, for example, appears on ipod touch). Sam Square pretend to myself a little square boxes, scanning the customer and credit card payment via a central site of the project. It is assumed that while the client is already in the accounting of Apis Square.
So far, Square is under construction, and use them only at the invitation, but already in 2010, Jack Dorsey promises to open the project for those who want all.
Financial support Square provides venture capital firm Khosla Ventures, founded in 2004 and collected in the summer of 2009 over a billion dollars for investment in projects related to environment and information technology.