It has been a couple months since we last touched on Square, but it looks like the company is making progress on their mobile payment service for Android. Initially the service was available on the iPhone, but support for Android is coming soon.

Square recently managed to hire Google’s Bob Lee (who led the core library development for Android) and they are still looking to hire an additional Android client engineer.

Jack Dorsey, Square CEO (and Twitter Co-founder), recently tweeted that Square was up and running on a Nexus One. This was followed by a simplified video demo on YouTube.

Could Square be the next big thing? Do you think it has the potential to transform the way vendors and consumers handle transactions? It certainly looks slick.