Jack Dorsey is the creator, co-founder, and chairman of Twitter. He had actually built the Twitter service in about 2 weeks. Now he is working on a new project and a source with Engadget has found out what it was. Dorsey is supposedly working on an iPhone and iPod Touch application that uses a dongle for being able to process credit cards. This allows anyone to accept credit card payments on the spot.
The venture has been given the code name “Squirrel.” In the screenshots that Engadget has about the Square system application, there is a domain name on the receipt called squareup.com. After doing a domain name WHOIS search on Squareup.com, there is a registered office in San Francisco listed. And the contact e-mail address is “email@example.com.”