There are people that just can’t stop having ideas, some even very good, or so simple that you say:”Why didn’t I think about it???”

When you are Jack Dorseay (co-founder of Twitter) then your mind must be filled with good ideas. With his new company called Square he developed the Square iPhone Payment System. A tiny cube to be mounted on the headphone jack (iPhone and iPod Touch) and a software to be installed (to make the little cube card reader work) that will allow to accept credit card payment by swiping the card in the reader.

How clever?!?

Can you imagine people travelling around with a payment system in their pockets? Shops where any employee can accept your payment wherever you are without having to queue? That sounds pretty good to me…

(Via TUAW)