Square, the popular service that allows vendors to accept credit card payments via an iDevice, has released a consumer app as well. The Square Card Case allows users to make purchases using the iPhone.

Currently available in select locations, the app works as follows. Instead of paying with cash or credit card at your favorite location, you simply give the merchant your name. From there, the Card Case app will take care of the rest.

And yes, it really is that simple!

Best of all, the app will keep track of recent transactions and provide paperless receipts, which are emailed to the customer immediately following the transaction.

Naturally, for this to work, you’ll need to have a credit or debit card on file. However, that process takes just a few seconds from within the app.

The Square Card Case also works as a credit card accepter, just like the original Square reader app. For this to work, you’ll need to purchase the Square reader device from an Apple Store or other location and then establish a merchant account. Square charges 2.75 percent per transitions and monies are promised into your account the next day.

We like this concept and would love to see it go mainstream. For now, the service only works at merchants that accept Square payments. You can find these locations using your iPhone’s GPS via the app. To show just has sparse these locations currently are, the closest merchant from my current location in Las Vegas, Nevada is 196 miles away.

The Square Card Case is available for free in the App Store.