updated 04:40 pm EDT, Thu October 21, 2010
Square outs iPhone 4 credit card readers
In response to the incompatibility of its mobile payment system with the iPhone 4, Square has released an updated version of the product that is compatible with Apple's latest smartphone. The older version interfered with the new phone's antenna by contacting it with its own metal fitting. The device is now shipping, and mainly has a plastic fitting instead of metal to get rid of the interference.
Furthermore, Square will ship the reader to customers for free who have used the app recently. The reader uses an iPhone's, iPod's or notebook's 3.5mm audio jack to connect, and together with a free to download app, will scan a credit card and process the payment through an online system rather than use a comparatively expensive commercial card reader and service.
The system is meant for small or single-person businesses. [via BusinessInsider]