Mobile payments company Square is teaming up with Bono’s Product RED organization for a special edition credit card reader that benefits charity. Square has become one of the leaders in processing credit card payments on mobile devices with a small credit card reader available for iPhone and iPad as well as point-of-sale software and hardware kits for merchants. The special SQUA(RED) Reader will be available for a $10 donation with 97.25% of the amount going directly to the Global Fund to fight AIDS in Africa. Customers swiping their cards will also get the opportunity to donate through a link on their emailed receipts:

The impact doesn’t end there. When you swipe (RED), your customers can donate right from their emailed receipts to help deliver an AIDS FREE GENERATION. Every swipe can make a difference.

Last year the official (Product) RED Twitter account revealed that Apple’s contributions to the charity had reached $65 million, making it the largest contributor out of all participating companies. Apple currently sells red versions of the iPod shuffle, iPod nano, iPod touch, iPad Smart Cover, and iPhone 4S bumper under the (PRODUCT)RED branding and donates a portion of profits to the charity. Most recently, Apple design guru Jony Ive and designer friend Marc Newson teamed up to assemble a one-of-a-kind collection to auction off for the charity.