Mobile devices and applications are on the verge of becoming even more pivotal in the retail marketplace. Jack Dorsey, the creator of Twitter, has announced a new product that will allow people to make credit card purchases using iPhones and iPods. This new product known as “Square” 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. The device will be available in March 2010.
Read more about the Square, and let us know what you think.