From ReadWriteStart:
The blog iPhone Alley reported Monday night that Square, the forthcoming mobile credit transaction service co-founded by Twitter's Jack Dorsey, will launch early this summer for the low price of $1. By plugging a small square card reading device into the iPhone's headphone jack, anybody with the device can instantly conduct credit card transactions using the service's iPhone app.
Usually, running credit card transactions means opening up a special merchant bank account and dealing with various fees. Any bank account will work with Square, and the only charge to use the service is $1 for the application and the card reader accessory; however, Square can...
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