Imagine being able to take credit card payments with a small card reader attached to your iPhone. Then imagine that the card reader is free, that you don’t have to sign up for a merchant account, and that the software enabling the technology only costs about $2. In April, you’ll be able to start taking credit card payments with Square’s new technology. TUAW editor Steve Sande visited Square’s Jim McKelvey at Macworld Expo 2010 and finds out how the technology works.

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