It's hip to be 'square' for small retailers

Being Square is cool, especially if you're a small retailer.

Square is a card reader that plugs into a smartphone, allowing it to accept debit and credit card payments.

It's being praised as a small and simple way for entrepreneurs to take plastic payments as it doesn't have all the contracts and monthly fees associated with common card terminals.

The free downloadable app allows payments to be deposited directly into the vendor’s bank account the next business day. However, there is a fee of $2.75 per cent per swipe.

There's also a Square register app that provides advanced analytics usually only big-box retailers have access to.

For more info, go here.