Square, Inc's credit card reader for the iPhone and iPod touch has been getting lots of attention since their site was launched last year, and for good reason. It's still being beta-tested, but when it becomes publicly available, the reader has the potential to allow anyone to accept payment via credit card right from their iPhone. I can see it being used at farmer's markets, garage sales, small businesses; just about everywhere.
I've personally been able to play with the system and it's just as cool as it sounds; plug a little block into your headphone jack, load up the app, and you're ready to accept payment by card. Unfortunately the unit I played with was having some trouble, but Kevin Rose got together with the guys at Square to record a full demo of the unit. Check it out below!