Twitter creator Jack Dorsey recently gave the first public demonstration of his hotly-anticipated latest venture “Square” – a device that allows its users to make credit card payments through their cell phones.

Square is a card reader about one inch in length that attaches to the headphone socket of most cell phones. 

The device contains a magnetic strip reader that allows a user to swipe a card, which will then coordinate online with card issuers and banks through a mobile application on the user’s cell phone. 

Basically, the Square works very similarly to card swipers that you see in most retail stores.

The device is scheduled to be available for iPods and iPhones in March 2010. 

View the latest "Square" YouTube video from TechCrunch    

Sources: 

After Twitter, Comes Square - By Richard Neil Ilagan, The News Chronicle

Creator Reveals Square Mobile-pay Device - By Barry Neild, CNN

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Denice MacDonald