Square Mobile Payment System Now Live for iPhone, iPad and Android

Back in the winter, we first saw Square, a mobile payment system created by Twitter co-founder Jack Dorsey. The system uses some simple hardware to process credit card payments on equipped mobile phones. The customer signs right on the phone, and receipts get sent by email or text. It’s a simple, cost effective way for smaller businesses to accept credit card payments.

Today, Square was officially unrolled as a free app in the Apple App Store and Android Market. The hardware, a compact little card reader that connects to the 3.5-mm jack of a cell phone, is also free for those that sign up for the service. Retailers will have to pay processing fees when using the service, which start at 2.75 percent and a 15-cent surcharge.

Want to see more of what Square’s all about? Take a look at the new promo video below. [via Engadget and Fast Company]

[youtube.com /v/iBieYjxUj5Q 570 x 320]