Mobile payment provider Square, also known as Jack Dorsey's other company, has just updated its universal iOS app to version 2.1, adding some small but key improvements.

The app, which allows anyone with an iOS or Android device to process credit card payments, has accelerated transactions, both by enhancing performance and reducing the number of screens in the process. It no longer requires a signature on purchases under $25.00, in the interest of time and effort. The tipping interface has improved, and $0.00 transactions are now supported, which will make the experience more merchant-friendly while allowing for more accurate receipts.

In May, a major Square update launched the Square Register and Square Card Case, making Square into a powerful real-world point of sale that's both technologically advanced and convenient. The Card Case creates a virtual loyalty card for a participating business on the consumer's phone, which includes a mapped location, the list of items on sale, and easy access to purchase history. The Square Register allows the merchant to keep track of customers and enables them to keep virtual tabs open, allowing customers to quickly and conveniently pay just by giving their name.

In the rapidly evolving mobile payments space, Square is heating up. It processes over $3 million in transactions per day, and despite its disruptive effects on the market, Visa itself has invested big money (an undisclosed amount of it) in the service. Apple, for their part, has made Square readers available in their retail stores.

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