second and third generation Apple iPad with a version for the fourth generation of Apple's tablet coming later in the year. The Stand swivels and measures just 9 inches while weighing in at 5 pounds. It can be purchased from Square's own website or from retailers like Best Buy and Staples. The Stand works with Square Register, the mobile app that helps convert an iOS or Android device into a POS machine.
Don't be surprised to see the Square Stand when you are paying for your daily cup of Joe at Starbucks. The coffee chain and Square reached a technology sharing agreement last year that covers Starbucks' 7,000 stores nationwide. At the same time, the caffeine pusher will invest $25 million in Square. Apple iPad use is growing rapidly at Square where it now accounts for about 50% of the $15 billion that is rung up through Square every year. That percentage could grow if the Square Stand becomes a big seller.
According to Forrester, mobile payments will hit $90 billion by 2017 while Square faces competition from PayPal and Intuit. Square was founded by Jack Dorsey, who also founded Twitter, and takes a cut from each credit card payment it processes.