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LA Times technology writer Mark Milian today published a fascinating article on what could be the next big thing: using cell phones to pay for goods and how it could change things in the streets and beyond:
In a potential boon to street vendors, mom-and-pop shops and those who just want to lend a few bucks to a friend, several companies have rolled out ways to use cellphones to process credit-card payments instantly. Square, a brainchild of Twitter Inc. creator Jack Dorsey, enables anyone to accept credit cards using a tiny white attachment and software that can be downloaded to a smart phone.
"The future has arrived," tweeted Mayer Hawthorne, a singer and songwriter who used Square to sell his CDs and merchandise while on the road.