As more and more competition enters the mobile payments space, simplicity is the name of the game. Square is about as simple as they come, or so it seems. The product lets anyone with an iPhone or iPod Touch (and soon an Android phone) plus the Square dongle accept payments from credit cards.

Check out this video to see Adam Lisagor (of LonelySandwich.com and Twitter Ad fame) explain Square and demonstrate this potential payments game-changer -- then let us know what YOU think in the Comment Section below.

Related Content

CEO Series: Twitter Vet Jack Dorsey on Why Square is What's Next

iPhone Payments Smackdown: Square vs. VeriFone

Will Twitter Founder's Square Make the Payments World Go Round?