Square Reader, the gadget that turns an iPhone, iPad and Android smartphone into a credit card accepting device got a sleek design update on Tuesday. This time it is slimmer and no battery required.

The device provides an easy way to complete transactions with customers and the new upgrade features a faster chip, a new reader for swipe accuracy and an enhanced audio plug.

The biggest update however is that it is now powered by the phone into which it is plugged, removing the need for a battery and increasing the reader's lifetime. The slim update makes it 45% thinner and it fits better with the slimness of smartphone models these days.

The man behind the redesign — Jesse Dorogusker, the company's VP of hardware — is an Apple veteran, who spent eight years in the Cupertino, Calif.-based accessories division.

Square also redesigned its website, squareup.com, to emphasize how it uses design.