PayPal was a big game changer in the early 2000′s, there have been some micro payment gateways that have entered the fray, however, this new concept Square, which melds some new technology and an old process with a new way of thinking to form a very accessible and lean payment system. (According to TechCrunch it was valued at $40m before launch)
There are some definite questions around security, cost and many others, but I’m sure they will work through those and come out the other end with a game changing business. Think of the applications in developing worlds, SMEs, borrowing money from friends.
This video explains it pretty well.
Tangent
On a side note, if you like the main dude in that tutorial video, check out another one he’s done for a Twitter app. It’s a refreshing way to explaining technology, go dude!
Hat tip
These gems came via some colleagues at Visual Jazz, Harley Donaldson and Nick Sturgess. Harley is a great source of interesting internets every week with kettlevision.