Twitter's Jack Dorsey on entrepreneurship - CBS News: "Co-founder (Jim McKelvey) also a St. Louis native wasn't able to sell glass art because he didn't accept credit cards (McKelvey was unable to process a $2,000 transaction). We took a month and thought about how to enable him to make transactions, came up with this device. It worked and we showed it to people. Square charges a transaction fee of 2.75 percent. It's unheard of because no one has done that before."
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