Anyone using "The Square" for Credit Card sales??

[Myka]

"The Square" is a card reader for credit cards that plugs into iPhone, Android, and iPad devices for point of sale transactions via an app. Is anyone using this product as a seller?

www.square.ca

I saw and used the product as a buyer at MACNA last fall. It's a pretty cool idea. The website says no monthly fees, no sign up fees, no activation fees, no inactivity fees, no cancellation fees, etc. They are only charging 2.5-3.75%, and they provide the device and app for free.

If used with an iPad, you can get a compatible stand and compatible printer for making receipts; even a cash drawer and bar code scanner. Cool.

So, the million dollar question...what are the CONS of the device??