Twitter Co-Founder Creates Square:'PayPal for Smartphones

Jack Dorsey, most famous for co-founding Twitter, is not content with having set the world of communication alight. Now he has turned his attention to transforming financial transactions using only a small white plastic square and little bit of clever code.
Appropriately named Square, his new business is enabling people to receive payments via their smartphones, using an app and a plug-in device. It started trading just under eight weeks ago. To some it is the future of mobile payment and, if it's a big hit Stateside, will surely come to Europe soon. The big card payment providers could also soon be looking over their shoulders.
Dorsey, presumably not as a clever piece of marketing, does actually live his life in a neat square. His new business premises are opposite his apartment, aptly next door to the US mint and centred around a lovely sun-filled square plaza, where people meet, talk tech and drink coffee.