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Jack Dorsey is accustomed to dealing in small. In 2006, he co-founded social media sensation Twitter, which traffics in content bites that are no more than 140 characters in length. He left his position as CEO a year ago (and remains chairman) and is now focusing on his newest endeavor: mobile payments. He came up with the idea for his new company, Square, a year ago and hopes it will revolutionize how money is exchanged. The first product that Square is bringing to market lives up to its name: it's a small cube-shaped credit card terminal that can plug into an iPhone's headset jack. The problem that the device is intended to solve is the swift and easy transaction of credit card payments for anyone. It was inspired by the plight of Dorsey's friend, Jim McKelvey, a glass artist who lost a $2,000 sale because he couldn't accept credit card payments.
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