Square, the payments company that makes it easy for small businesses to accept credit card payments wherever you go, is finally catching up with the times today by updating its tiny card reader.

LAS VEGAS — Square sells its own cash register replacement for the iPad, but the mobile payments company has yet to debut any iPhone-compatible accessories for its card reader. Well, until now.

VeriFone CEO Doug Bergeron’s appears to have touched a nerve with his statement Wednesday that startup Square should recall all the mobile credit card readers it has distributed for free so far ...