The co founder of Twitter Jack Dorsey’s company Square has come up with a genius invention that could change how we buy and sell products.

Square allows merchants to use their smart phones to accept credit cards where ever they are, as long as you have an internet connection.

This is how it works:

Square's innovation is a small adapter that plugs into the audio imput jack of any smart phone. After setting up an online account, you can use this adapter to accept credit card payments for anything. Square eliminates receipts, gives rewards and even donates a penny from every purchase to a cause of your choice.

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Also you watch the video below for a demo of Square