Mobile payment processor Square on Tuesday revealed a new hardware accessory for Apple's iPad: the Square Stand, which turns the popular tablet into a register capable of accepting credit card payments.

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Mobile payment processing company Square announced on Wednesday its new "Business in a Box" — a product meant to serve as a full point-of-sale system for physical retailers, allowing them to accept payments and perform analytics on their businesses from one device.

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The partnership announced between Starbucks and credit card processing service Square underscores the potential demand for mobile device payments, lending some light into why Apple is promoting its new Passbook app as a key feature in iOS 6.

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