Square, a mobile payment service, now has an updated app compatible with the iPhone/iPod touch. The first version of Square (free) that released in early April was compatible with the iPad only.
The Square app allows users to accept cash and credit card payments and can generate email and SMS receipts. The service requires a free Square account and physical credit card payments require a separate card reader accessory that plugs into the iPad’s or iPhone’s headphone jack. Once a user obtains a free Square account, the card reader accessory is mailed to the user at no charge.
A Square account can be obtained by signing up through the app. Fees are only charged for credit card transactions and there are no subscription or other fees.
A demo video is available on YouTube: