updated 10:35 pm EST, Thu December 8, 2011
Promotion targets small business owners
T-Mobile is reportedly set to begin a promotion that will provide free Square credit-card readers for subscribers who upgrade to 4G handsets. The program, which also brings discounted service rates, is aimed at business users who might benefit from Square's mobile payment system.
Square recently made a significant expansion to its distribution, bringing the card readers to thousands of stores such as Best Buy and Target. The small dongle plugs into the headphone jack and enables users to swipe and process credit cards on iOS or Android devices.
The service appears to be continuing to grow in popularity, with current transactions estimated to reach $2 billion per year. Square makes its money from a 2.75-percent flat fee that is added to each card payment, while the mobile apps can also be used with cash drawers and receipt printers.
T-Mobile's 4G upgrade plan brings unlimited talk, text and data for $70 per month on a two-year contract. [via TechCrunch]