“I Accept Plactic” – The Future of Marketplace Social Networking

March 19, 2011

It’s no big suprise if the name Jack Dorsey (@Jack on Twitter) rings a bell.  He is the founder and CEO of a US based company called Square.  He is better known however for his brainchild Twitter. 

Twitter is the king of social networking platforms boasting over 200 million users and counting.  While working at Odeo, a San Fransisco podcast publishing and aggregation site, Dorsey came up with the idea of Twitter which he launched in July of 2006 issuing the first tweet in history: “Inviting co-workers“.  Dorsey went on to conceptualise  Square, a service that allows any person or small business to accept credit or debit payments anytime anywhere (in the US) simply by downloading  the app and attaching the small plastic credit-card reader to a mobile phone or ipad.  A single swipe of a card through the reader is all it takes, there is no contract, monthly fee, extra equipment or merchant account required and it’s simple to sign up, all you need is a US bank account, physical mailing address, social security number and Bob’s your uncle!  Dorsey invisions ipads and Square card readers in the backs of taxi cabs replacing the video advertising screens.  Dorsey predicts that just as Twitter is the future of communication, “Square will be the future of payment”.

Now check out this funny video:



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