Many businesses have turned to mobile tools to promote their products and services. While these tools help to create new marketing channels, they’re also changing the way we do business.

Today, Square announced that it has released a new app that enables a brick-and-mortar business to replace its cash register with an iPad.

The mobile payment startup launched a few years ago and is now processing about $4 billion in payments per year. The new app, Register, goes beyond a payment-processing service by replicating and enhancing the features of a cash register.

Through Register, you can accept both cash and credit payments and track the history of customers’ purchases. It also provides analytics so you can see which times are the busiest and which days aren’t performing well. Additionally, you can easily list menu items and add employee permissions, tipping, and smart receipts.

Square Register is a great addition for any small business. It’s especially handy for high-traffic locations — as it speeds up the check-out process — as well as food carts, booths at conferences, and other locations where a standard register isn’t accessible.

To download Register, you will need an iPad running iOS 5.0 or higher. At this time, Square hasn’t announced any plans to launch an Android version.

[Via: Time, Image credit: Zak Pegg]