Jack Dorsey's Square in Action (Video)

For those that missed it, yesterday marked the official launch of Jack Dorsey's much rumored new startup - Square.

Square is a device that allows people to accept credit card transactions without the hassle of signing up for a merchant account and buying expensive hardware to handle card swipes and authentication. It's been getting described as a Paypal for physical transactions, and works by attaching a small device (the size of my thumb nail) to the headphone jack in a smartphone. The device gets its power from the actual swipe of the credit card. Pretty awesome stuff.

After seeing a video by MG Siegler of Square in action at Sightglass Coffee in San Francisco (where Dorsey is an investor) I was quite impressed and wanted to try it out for myself. Luckily I had a meeting near Sightglass this morning and decided to stop by and shoot my own quick video to show friends. You can check out Square in action below.

The experience was pretty awesome (in part due to Sightglass' friendly staff), especially considering this is brand new and not very "battle-tested." I'll be keeping a close eye to see where Square ends up and how it disrupts the payments space. I'll be rooting for the success of this innovative product from a remarkable design thinker.

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