Square Mobile Phone Payment System Launches in Private Beta
By Anna Johnson on December 7th, 2009Square is a new mobile phone payment system founded by Twitter co-founder Jack Dorsey. It has just launched in private beta and may well be a viable alternative to PayPal and other payment processors when it’s released to the general public in 2010.
Essentially, Square promises to give anyone the ability to accept credit card payments without contracts, monthly fees, or hidden costs. Rather, Square users will be able to use their mobile phones, laptops or desktop computers to accept credit card payment cards by swiping them with a small dongle that plugs into the computer or phone audio jack.
Square, which is backed by Khosla Ventures, is currently testing its service with a select group of companies, with plans to roll out to more businesses next year.
