Square has announced that its new NFC reader that enables small businesses to accept Apple Pay, Android Pay, and other contactless payments can now be purchased from Apple online or in U.S. stores for $49.
The reader is compatible with NFC-equipped smartphones, including the iPhone 6 or newer, and contactless EMV chip debit and credit cards based on technologies like American Express ExpressPay, MasterCard PayPass, and Visa payWave.
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The small square-shaped reader functions like other NFC-enabled payment terminals, allowing users to wave an iPhone, paired Apple Watch, or contactless EMV chip card near the reader for a few seconds to complete a purchase.
The NFC reader, which connects wirelessly with iOS and Android devices via Bluetooth, also works with EMV chip cards that are inserted for Chip-and-Signature payments. Square includes a magstripe reader in the box for accepting traditional swipe payments as well.
Apple Pay is accepted at more than 1 million locations in the U.S., but its early rollout has mostly been limited to larger franchises. Square's new NFC reader, and similar products, will help expand Apple Pay to smaller businesses across the country.
Top Rated Comments
$49 is just too expensive. I get there is more tech in this by far than the free strip reader they gave out, but cmon. $25 would have been more than fair still.
You're kidding me right? You save $49 of your first transaction fees after buying the reader.Try buying a Verifone MX925 and see how much one of those goes for.
Give me a break.
Actually, Apple could make a card reader, process everything through the Apple Pay system and completely take over the small-biz cash register business. People are already using iPads/iPhones with Square or sometimes PayPal or sometimes ShopKeep for "cash registers".
$49 is just too expensive. I get there is more tech in this by far than the free strip reader they gave out, but cmon. $25 would have been more than fair still.
To a business, $49 is a small investment. The device helps people make money.Come on Tim, this seems like a really smart investment, even if not as sexy as buying beats.