In case you haven’t seen this yet, we really must draw your attention to an IPhone gadget which will look to revolutionise the way individuals and small businesses can complete financial transactions.

In September last year Twitter founder, Jack Dorsey announced that he would be launching a new startup: Square.  This service would provide IPhone users with a dongle-like square add-on that would allow them to take credit card transactions my simply swiping them through the square and entering their payment details using the phone.  You can even use the IPhone interface to scrawl your signature with your finger.  The receipt is then emailed through to the buyer and the who transaction is logged with geo-location.  The benefit of all this is that the entire transaction is kept clean, simple and paperless.

Impressively, the device plugs into the IPhone via the audio input jack and is synced up to software on the phone.  Initial beta models of Square have been made solely for the IPhone, however it is expected that it will be modified to work with Blackberry’s and even perhaps older models of mobile phones.  There is little doubt that Square will prove to be a very innovative and useful application for those doing business on the move.

You can follow Square’s development via their Twitter profile.