Square Launches All-in-One Payment Device 'Terminal' With NFC and Card Support

Thursday October 18, 2018 11:26 AM PDT by Mitchel Broussard
Payments company Square today announced the launch of a new point-of-sale hardware device called "Terminal," which combines NFC, credit/debit card swiping, and chip-based payments all in one piece of hardware. Like Square's other devices, Terminal supports Apple Pay, Google Pay, and other mobile wallets using near-field communication.


Square says Terminal can be used alongside an existing point-of-sale solution or as its own standalone payment processing system. Terminal also has an all-day battery, Wi-Fi and Ethernet internet connections, an offline mode, quick setup, fraud prevention, and is fully mobile so it can be used on a countertop or taken directly to customers. In terms of pricing, businesses will have to pay one transaction rate of 2.6% + 10¢ for every payment, and Square promises no hidden fees.
“We love how the hardware, payments, and printer are all part of one device,” said Fabrice Borg, manager of Prive by Laurent D Salon in New York, NY. “Square Terminal makes for a more seamless and professional experience when we bring the terminal to our customers and they can pay for their services right from the salon chair.”
Square first launched its original NFC reader back in November 2015, allowing any business to introduce Apple Pay support to their checkout process. Over the years the company expanded into the United Kingdom, introduced new point-of-sale devices like the Square Register, and updated the swipe-based Square Reader with a Lightning connector.


Those interested can purchase Terminal in the Square Shop for $399, or pay $37 per month for 12 months.

Related Roundup: Apple Pay
Tag: Square
32 comments


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I am Sampson
9 months ago
But...but... it’s not a square!?
Rating: 5 Votes
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Creek0512
9 months ago

Love the design. Is it Level 3 EMV? Does it do "Pin Debit"
Thanks

I don’t understand why all the POS manufacturers in the US insist on horizontal chip card slots when it is immeasurably easier to insert chip cards vertically. Of course I also don’t understand why chip readers take 10x longer in the US either.
Rating: 4 Votes
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jdusoccer12
9 months ago

Actually looks like a nice device. Although $400 for that, then 2.6% + Credit Card Transaction fee (~3.5%) and you're talking real money (5%+ for every transaction).

The government should provide an electronic payment process with no transaction fees and that is private (a true cash replacement).


There is only a 2.6% + $0.10 fee per transaction. That covers paying Square and the credit card company.
Rating: 3 Votes
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erinsarah
9 months ago
I'm hoping this (or something like it) becomes huge in the restaurant industry, since restaurants seem to be the last frontier for ApplePay and the like, as you can't carry a cash register to a diner's table.
Rating: 3 Votes
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nutmac
9 months ago
Look great. $399 isn't bad considering it even has a roll printer built-in to it.

The only limitation seems to be omission of cash transaction data entry.
Rating: 2 Votes
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Sasparilla
9 months ago
Actually looks like a nice device. Although $400 for that, then 2.6% + Credit Card Transaction fee (~3.5%) and you're talking real money (5%+ for every transaction).

The government should provide an electronic payment process with no transaction fees and that is private (a true cash equivalent).
Rating: 1 Votes
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applesith
9 months ago
Square is a nightmare. They will randomly hold funds and offer next to no customer support. I've seen friends' businesses ruined by it as well as read countless stories about Square taking money and not offering any reason for it.

Research card processors before you pick one: https://www.consumeraffairs.com/business/square.html
Rating: 1 Votes
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Fzang
9 months ago

I'm hoping this (or something like it) becomes huge in the restaurant industry, since restaurants seem to be the last frontier for ApplePay and the like, as you can't carry a cash register to a diner's table.


It’s pretty huge in Europe. For expedited service I usually go up to the register instead of waiting for the waiter to come around.
Rating: 1 Votes
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mrow
9 months ago

I don’t understand why all the POS manufacturers in the US insist on horizontal chip card slots when it is immeasurably easier to insert chip cards vertically. Of course I also don’t understand why chip readers take 10x longer in the US either.


I feel like a broken record continually mentioning my recent trip to Europe but most of the readers I encountered had horizontal slots too.

Of course most (all?) European credit cards have contactless chips built in to them which, basically, work on the same technology as ApplePay/GooglePay/etc. so the slot is unnecessary.
Rating: 1 Votes
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aimbdd
9 months ago
If that’s the credit card rates you pay, you need a different processor. Ours average less than the 2.4%, and it’s a small business.

That's fantastic. I know American Express has higher transaction fees than Visa or MC and it was like 4.5% not that long ago. I've heard Visa / MC transaction fees for credit cards (not debits) are 3.5% or so.

They must have negotiated a seriously low rate with them somehow.

Rating: 1 Votes
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