Pay Up or Square Up

PayPal made it possible to start an online business that transcends physical boundaries. Square takes that notion a step further, making it easier for you to process credit cards or debit cards wherever you are—right from your mobile phone.

Here's how it works: Apply to use Square. The company sends you a small card-swipe device that plugs directly into your iPhone's audio input jack—and you're in business! Whenever you sell an item, be it in your own store or on-the-go, you can pull out your iPhone, plug in the card-swiper and take a card-based purchase on the spot. 

And much like Mint.com for personal finances, Square tracks payments and even repeat customers on your behalf. You can log in from anywhere; card transaction records go everywhere you do. Better still, your buyers have the option to receive their receipts via text or email—meaning one less piece of paper to tuck into handbags or wallets.

More good news: Payments are secured by Square. And because repeat customers are tracked, you can dream up ways to reward those clients without having to give them old-school loyalty cards. To add a little extra feel-good to your day, a penny of every transaction is donated to a cause of your choice.

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