Still in its beta version Square will permit you to use your iPhone to receive paymentsm by simply pulgging a really small card reader into your iPhone's audio jack.
There will be no need to sign up for expensive equipment, contracts and paying high fees.
You will be even able to confirm the buyer's identity in the spot and a receipt will be made available right away.
This card reader will also work in some other mobile devices with an audio jack, such as iPod Touch, BlackBerry and Android based phones.
According to ReadWriteWeb's channel ReadWriteStart, the card reader will cost $1 and the company will charge a fee of 2.9% for each transaction.
This due out soon service will be quite useful for artists who participate in art fairs, or have their own studio sale.