Square, founded by Twitter creator Jack Dorsey, has launched it's mobile payment system in Canada making it even simpler for businesses to accept credit cards.

Square provides a free Mobile Card Reader that plugs into the headphone jack of an iPhone, iPad, or Android device and runs with a free app called Square Register, which enables secure credit card payments.

The functional app also serves as a full point-of-sale system for businesses to accept payments, track inventory, and monitor daily reports.

For each swipe registered, Square receives 2.75 percent of the transaction with no hidden fees. Funds from swiped payments are available the next business day.

Alyssa Cutright, VP of International for Square said: "We are focused on making commerce easy for everyone. Square builds free tools for local businesses of all sizes and types to thrive. We're thrilled to introduce Canadian businesses and their customers to the most seamless and enjoyable way to do business."

Canada is Square's first market expansion outside the US, where more than 2 million individuals and businesses, including 700 Starbucks outlets, use the service.

Founded in 2009, Square currently processes over US$8 billion in annualized payments and employs 400 at its headquarters in San Francisco. The company announced on October 22, it will be expanding operations within the US, and hire an additional 600 employees by 2013.

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