It was reported last night on iPhone Alley that Square will have THE hottest iPhone App of the summer! For only a dollar, you can download their new App, and receive the iPhone dongle accessory. That’s right… it only will cost you a dollar! What is this great new App, you ask? It’s only the hottest thing to hit the App Store in ages, and can turn your small business into a large one quite quickly!

The dongle plugs in to your iPhone headphone jack, and allows you to take credit card payments instantly, while you’re on the go. Even better news is the way they connect with bank accounts. In the past, most credit card processing applications required that you open a separate merchant bank account. With Square’s offering, you can tie in your transactions with an already-established bank account of your choosing!

Square can easily afford to give away the App – and the dongle – for only a dollar. After all, they’re going to get a whopping 2.9% fee off of each transaction made using the service. They are charitable, though. You can specify a charity that is near and dear to your heart, and Square will donate a penny of their profits from each transaction to that charity.

Don’t waste time looking for a way to get payments on the go. Grab this App as soon as you can, and be ready anytime – anywhere!