Square is a surprisingly effective tool that takes card payments, sends virtual receipts and protects against fraud. Setting up an account with Square is quick and easy. As soon as you have completed the process, you receive a small card reader free. This plugs into your phone to allow photo and signature verification. Once you have entered credit or cash transactions, they can be monitored online via e-mail receipts or by phone.

Setting up an account with Square is perfectly safe. The app will ask for your bank account information, social security number and date of birth, all the information is stored securely online, and nothing is left on the phone. The app works with credit, debit, pre-paid and gift cards from American Express, MasterCard, Visa and Discover. However, keep in mind that transactions can take up to two days to be fully processed.

Furthermore, there are no start-up charges. Instead, there is a 2.75% and 15 cents fee for each purchase.  The app does a great job at tracking various transactions. With GPS and photo options enabled, users will also be able to track items by photos or location.

While Square does have a few glitches that need to be sorted out, it is undoubtedly a great application and very useful tool.