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Twitter creator Jack Dorsey seeks to make credit cards more transactionable

I ran across this interview and demonstration on TechCrunch’s Twitter stream.  MG Siegler is interviewing Jack Dorsey (who also happens to be the creator of Twitter) and the topic is his new project called “Square.”  It seems Square can turn a hand held device, like the iPhone or iPod Touch into an instand credit card machine.  The possitives are the size, the ease, and the efficiency.  Some features include:

• Easily scan a card
• Accept a signature via a finger on the touch screen
• Multiple reciept options, including emailing and SMS (phone texting)
• Associate a picture of yourself with the card to easily verify that the card holder REALLY IS the card holder

Check out the video and let me know what you think.