Square is on a roll with its iOS-based payment system, but much like Apple itself, the company isn’t content to rest on its previous success. Instead, they’ve introduced a new free app called Square Register with the intention of converting an iPad into a full-fledged point of sale cash register.

TechCrunch is reporting that Square has introduced a new iPad app called Square Register, billed as “everything you need to start, run and grow your business all in one free iPad app.” The product is squarely (get it?) aimed at merchants, with a redesigned user interface intended for brick and mortar retailers of all shapes and sizes.

“You’re open for business,” the Square Register website reads. “Square Register is the simplest way to accept credit card payments, and has all the features you need to create an elegant experience at your counter.”

Included with the signup is a free Square Card Reader which plugs into the iPad; the free Square Register app is now available from the App Store. The service includes the ability to customize your inventory, organizing items by name, photo or price, with Favorites for speeding up the checkout process. Best of all, Square Register includes one simple merchant rate of 2.75 percent for Visa, Mastercard, Discover and American Express.

Of course, the iPad alone can’t handle cash transactions, but Square offers full instructions for setting up a wireless receipt printer as well as a cash drawer, making Square Register a complete system. Check out the video demo below and head to the App Store to download the free 10.3MB app -- but you’ll need to sign up in order to use it, of course.

Follow this article’s author, J.R. Bookwalter on Twitter

Square Register from Square on Vimeo.