Square Up Just May Beat Those Pesky Credit Card Machines

The inventor of Twitter has just shaken the market with his new invention: Square Up.

A small card reader that can be attached to your iPhone is combined with software that automatically creates a receipt that is sent to your email, along with verification of the location of exchange and photo of card carrier.

The card reader is probably not very good at commercial use, but for many freelancers who are charging consulting fees on the run, this would be the perfect solution for generating quick invoicing and receiving payments on the spot.

I am impressed. Check out Square Up