Phil Torrone got to look at the new Square iPhone Payment system and he and the daring Lady Ada of AdaFruit industries took some photos and video of a prototype of the new device. To recap, the Square device is a little dongle that lets you swipe credit cards. With a quick slash of the card you can accept payment from anyone for almost anything.
Not much to write home about right now but this early beta seems to work like a charm, reading and authorizing a charge in seconds. Great for the hunter/gatherer economy that will come in to replace our current capitalistic model.