Are you a small business looking to accept credit card payments extremely easy and without merchant fees? Tired of using cash? SqaureUp, founded by the co-founder of Twitter, Jack Dorsey, has already released a credit card payment system for the iPhone and iPod touch. They will soon be releasing it for the BlackBerry (most likely for the Storm2) and Android devices.

The SquareUp technology works by having you plugin the credit card scanner into the headphone jack. Once you scan the credit card’s magnetic strip it converts the data into an audio file, which is then encrypted and transmitted to SquareUp for processing. The purchaser then signs for the transaction by swiping their finger on the touchscreen. After the transaction is complete a receipt can be sent to you by an SMS text or e-mail. You can also add a profile image to your account for added security. 

With so many businesses utilizing BlackBerry devices we believe the SquareUp service will be a huge success. When it’s released will you be using it?