Visa has ventured into the mobile payment world with an investment in Square. Incase you are unfamiliar, Square is a startup founded by Jack Dorsey, Twitter’s co-founder. The app turns your mobile phone into a credit card payment system, all you need to do is download the app. The best part is, Square will send you out a free credit card reader. The company makes its money by taking 2.75% of each sale.
Visa has invested an unspecified amount into the two-year old startup. A Visa executive will now sit on the board at Square.