We love the iPhone and we love the fact that now PayPal allows you to "bump" payments to other iPhone users without any wires. Now, it seems that you'll be able to use your credit card this way, using a small add-on from Square.
The Square Payment System is here. It is currently available. Aside from working with the iPhone, it also works with Android-powered devices. Naturally, it will support other types of devices, such as the iPad and Android-based tablets as well. It allows retailers to accept payments from clients in an easier way.
If you're going to accept credit cards, this won't be free of charge. You'll pay fees that start at 2.75%. This is a really cool thing because if you want to accept payments from your friends, family, and colleagues, you can do so now, thanks to Square. What's even more interesting is that you don't need to open up a merchant bank account.
What does this mean to the everyday consumer? It allows you to make easier payments to a variety of businesses, who usually wouldn't accept payments via credit card. The Square credit card reader is free of charge. Square will mail it to you once you sign up to the service.
[via Ubergizmo, images via Square]