The Square Reader is a tiny chip card reader that plugs into the headphone jack of any smartphone or tablet, allowing users to take credit card payments right from their own devices. It's been on the Australian market for 12 months now -- but in this time has built up a strong customer base of over 60,000 small businesses across the country, despite tough competition from CommBank's own Albert POS device.

Do you use your credit card or your phone to pay for your morning coffee, or are you still holding on to that pocketful of coins? Sydney-based coffee roastery and cafe chain Pablo & Rusty's is opening Australia's first cashless cafe in Brisbane, ditching the notes and coins in favour of credit cards, phone-based payments and even smart coffee cups.

Two Aussie companies are partnering in creating a fully integrated PS solution for retailers -- one of them being Telstra-owned e-commerce platform Neto, and POS'99, a reseller of popular POS hardware.

Optus has announced a new service called Retail Assist, a POS capability that will allow retailers to carry out tasks such as processing sales, checking stock and accessing customer information, all from a mobile device within the store.

Commonwealth Bank has recently partnered with tech startup Kounta to launch a new comprehensive POS app for its Albert EFTPOS tablet device, providing support for a number of common frontline check out functions. The new app combines the POS needs of many small businesses, providing a one-stop solution for complex business needs. Here's what you need to know about CBA's take on Kounta.