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Edith Yeung has a knack for bringing smart people together.

For evidence of that, one needed to look no further than the fourth floor auditorium of the Metreon in San Francisco last weekend. It was there that Yeung and her team hosted a series of speakers, panels and product demos for a floor full of attendees, each of whom found the line-up tempting enough to coax them out of bed early on a Saturday.

Keeping up with every RSS feed item and tweet is hard enough for anybody, let alone someone trying to run a business. That's why every Friday, ReadWriteBiz rounds up the week's most important tech news and insights for small and medium-sized businesses.

Earlier this week, we wrote about how Square, the mobile payment app, had run into issues with its credit card reader not working with the iPhone 4. The company has run into a few setbacks along the way, but it looks like this is one they're quickly taking care of.

According to the Business Insider, incompatibility with Apple's latest and greatest incarnation of smartphone wasn't on the agenda.

It's been nearly a year since Twitter co-founder Jack Dorsey announced the launch of mobile payment system Square. In that time, the company has run into, hardware, software and security issues to keep it from taking off. According to an article in today's Financial Times, the service has one more gigantic hurdle to clear in its efforts to get moving and gain adoption - it doesn't work with the iPhone 4.

Update: As one commenter points out below, the problem is not universal and only affects some iPhone 4 users, not all.

As news breaks this morning about the Intuit/Mophie partnership that aims to bring a complete credit card solution to the iPhone, the focus has been how this new product - an attachment that snaps onto the bottom of the phone - competes directly with the startup Square, co-founded by Twitter's Jack Dorsey.

Like Square, the new solution allows you to physically swipe credit cards while processing the transaction over an Internet-connected iPhone. But isn't toting around a physical plastic card soon going to be a thing of the past? Maybe, as makers of other new mobile payment solutions, including "contactless" technology and money-transfer apps, would have you believe. Then again, maybe not.

Ever since the announcement last December that Twitter co-founder Jack Dorsey was launching Square - a platform for accepting credit card payments on mobile devices - a debate has raged on over the security risks the app may or may not create. The application has since launched on the iPhone and iPad, but its use has been hampered because of production delays of its card scanning dongle. Today, however, in an email to users, Dorsey said Square is retooling its infrastructure to handle credit risks and is close to finally shipping more scanners.

In a press release this morning, MasterCard has announced that desktop and mobile developers will have access to an API from the credit card giant later this year. The company hopes that by opening its technology to developers, new and innovative e-commerce applications that leverage the MasterCard network will be created, potentially competing with the likes of Visa, PayPal and Square.

As we head toward the final week of February, and the Winter Olympics in Vancouver get set to begin their second half of competition, it's that time again for the ReadWriteStart Weekly Wrapup. In this week's edition we've got some tips to get your iPhone app ranked higher, as well as a funding opportunity for getting your iPad app ideas off the ground. Our Never Mind the Valley series returns as we profile New York City, and in the most discussed topic this week we talk about Square's new mobile credit card scanner and its possible implications for small business.

The blog iPhone Alley reported Monday night that Square, the forthcoming mobile credit transaction service co-founded by Twitter's Jack Dorsey, will launch early this summer for the low price of $1. By plugging a small square card reading device into the iPhone's headphone jack, anybody with the device can instantly conduct credit card transactions using the service's iPhone app.