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Sim­ply, Square is a com­pany that will let you make credit or debit card trans­ac­tions from a smartphone.

While mean­der­ing around the web we made this lit­tle dis­cov­ery, Square. Square is a new com­pany who has a founder from another inter­est­ing com­pany, twitter.

Credit and debit card trans­ac­tions take all kinds of devices phys­i­cal and tech­ni­cal includ­ing mer­chant accounts that cost you a bun­dle each month whether you make a trans­ac­tion or not. This is dif­fi­cult for small busi­nesses and sole proprietors.

The back­ground story is that “In Feb­ru­ary 2009, Jim McK­elvey wasn’t able to sell a piece of his glass art because he couldn’t accept a credit card as payment.”

The whole process seems ter­ri­bly slow for a small trans­ac­tion but the advan­tages of mar­ket­ing offers to fre­quent cus­tomers, an iden­tity ver­i­fi­ca­tion sys­tem, text and e-mail receipts, and trans­ac­tions to the cloud make it a player in this ser­vice space.

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