If you want to get paid right away even from someone who doesn't have cash, check out Square for the iPad. Simply tell the app what is being purchased, the price, and the tax - then you're set! Soon, there will be a dongle that allows you to swipe credit cards. This may transform the way merchants receive payments everywhere, as it transforms your iPad into a cash register.

Neat features for the iPad include re-usable items for frequently sold items, instant authorization with signature, and easy email receipts.

iPhone and iPod Touch users will have a similar experience on their smaller device, arriving within weeks. David Prager brings us a beta preview of the unreleased app. See it in action!

Visit SquareUp.com if you'd like to learn more. Click here to download this app in iTunes.

Hosted by Stephanie Chu and David Prager