Square is a free alternative to accept credit card payments through smartphones.

For business people who lack the resources to use a traditional credit card processing service to accept credit card payments, or people who conduct most of their business on the go, there is now an option to take credit card payments if they own a smart phone.A startup called Square.com launched this past December, has devised a mobile payment system that works through a smartphone. Vendors can sign-up at SquareUp.com and receive for free a small credit-card reader that is to be inserted into the audio jack of the phone. When customers make a purchase, they swipe their credit cards into the reader which would authenticate the card through the phone and let the customers sign their names on the screen to complete the transaction.

Available at first for iPhone and other Apple mobile devices, the system is now available for Android based phones.

According to appscout.com, Square charges a flat fee of 2.75% plus 15 cents for every swipe, and 3.5% plus 15 cents for any charge where a card is not present but the number is keyed in.

For more, see appscout.com