We have just spotted that Apple has started selling the Square Accessory on their store. For those who do not know what Square is and what it does, Square is a device/service designed for individuals and small business so that they can accept credit card payments at a very low per transaction fee without any monthly contracts. Currently the Square device is compatible with iPod touch, iPhone, iPad and Android phones. More details are as under.
Users can download a FREE iOS or Android application for respective markets which simplifies the task of accepting credit cards payments (see video). According to Square, Square owners will be charged 2.75% fee per transaction which is fair enough. Currently, the Square accessory is being sold on Apple store for a price of $9.95 and it comes with a card having $10 redemption code. So basically the Square accessory will cost you nothing. Apple iPad, iPhone, iPod touch owners make sure they have iOS 4.0 or above.
As of now, the Square can accept credit card payments only within 50 U.S. states.
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