(2009-10-19) Dorsey Mobile Payments Squareup

Jack Dorsey is apparently working on a Mobile Payment system called SquareUp which appears to involve

• a dongle for the vendor-employee to attach to an IPhone, to swipe your Credit Card through

• a SaaS operation which charges your card and transfers the funds to the vendor.

So, as a vendor, you'd have to integrate this software into your POS system, because you still have to deal with scanning/entering the items leading to the transaction? I'm missing something here....

Or is this meant to be used between 2 individuals, instead of PayPal? "You owe me $20 for dinner, let me swipe your credit card."???