*Free as in fring itself is a free app and you don't incur extra fees for using video calling. All the other happy iPhone-related fees apply.
So, here's a neat trick: with fring, you can already manage multiple instant messaging accounts — including Skype — and now, thanks to an update, you can even do video calling on the iPhone. "But DVICE," you cry, "the camera is on the back of the iPhone!" Indeed, that's why it's, sadly, only one way.
In the end, it's a cool gimmick but maybe a little too voyeuristic for our tastes. Two-way video calling is definitely coming, though. TUAW has a hands on with the app, or hit the jump for a short commercial showing off the technology.