Apple Thoughts: You, Yes You, Can Accept Credit Card Payments Via Your iPhone

"Remember the Square card reader and payment service from our first hands-on video in January at Macworld Expo 2010? Square makes it possible for anyone, whether an individual or small business, to take payments via credit card. Shortly after Macworld Expo, I signed up for the service; I finally received my free credit card reader yesterday."

This will certainly make splitting up the coffee bill at work easier, now I can charge people exactly what they owe me! I'm kidding, but only partially. The folks at Square do make it easy to establish an account and the fees, according to the author are very reasonable. I wouldn't know since I have never administered one of these accounts for a business so I'll have to take his word for it, but the added convenience certainly would be worth something. What are your thoughts, anyone out there run a business that might take an interest in this?