A few of my brother’s acquain-tances and Twitter co-founder, Jack Dorsey founded a pretty rad startup called Squareup. Currently in their product/service pilot program, Square up gives away square dongles that work in conjunction with their iPhone and Android apps to people and merchants for free.
It’s similar to Apple’s new in-store POS / Inventory tracking systems developed to work in conjunction with their iPod touches. Except SquareUp is more focused on just the the credit card transaction, while Apple’s system involves a bar-code scanner and inventory tracking, and hasn’t sold their system to other companies as far as I know. I’d imagine SquareUp’s business model involves charging a small fee per transaction. See above video for more details.
