Square has introduced its Square Stand to Apple stores which turns an iPad into a full PDQ credit-card terminal and POS system when used with Square's Register app. Retailers can also plug in printers, barcode scanners, and other payment card readers. The Square Stand is a lot cheaper than your typical cash register and payment system, and it can even save business' from excessive card transaction fees thanks to charges being a flat 2.75 percent fee with no card swipe fees. Customers are not required to have a merchant account and no other fees are required to use it.
The Square Stand works iPad 2 and iPad 3, but the company is expected to release a lightning-compatible version in the future. It's priced $300 and is available now at Apple's US stores.
Square, Inc was founded in in 2009 by Jack Dorsey (Twitter) and Jim McKelvey, and the company launched its first app in 2010. In August 2012, Starbucks announced it would use Square to process transactions with customers who pay via debit/credit card. Starbucks has invested $25 million in Square.