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'Square' Articles

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

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

Square Upgrades Square Reader for Magstripe With Lightning Connector

Square today announced that it has updated its original free Square Reader for Magstripe with a new Lightning connector, so sellers with the iPhone 7 and above will no longer need to use an adapter to accept payments from customers. Prior to the Lighting connector update, the Square Reader plugged into the headphone jack on a device. Square users with the iPhone 7 or later were required to use an adapter with the Square Reader as Apple eliminated the headphone jack starting with the iPhone 7. Square is also introducing support for using the original Square Reader with a computer using the Square Virtual Terminal. This setup is ideal for sellers who do the majority of their business on the computer, and the software is compatible with Apple's Macs and Chromebooks. According to Square, users will need to plug the Square reader for Magstripe into the headphone jack on a computer and then open up the Virtual Terminal to begin accepting payments via computer. Transactions made via the new Square Reader with Lightning or the Square Reader used with a computer incur a 2.75 percent fee per swipe for Visa, Mastercard, Discover, and American Express. Manually entered computer payments incur a fee of 3.5 percent plus 15 cents. The Square Reader for Magstripe with the new Lightning connector is available from the Square website for $10 or free for eligible

PayPal Acquiring iZettle to Compete With Square for In-Store Payments Processing

PayPal this week announced plans to acquire the Swedish-based payments hardware company iZettle for $2.2 billion, with a plan to expand its presence in brick and mortar stores thanks to iZettle's technology. The acquisition will also help PayPal bolster its business across iZettle's main markets of Europe and Latin America (via Bloomberg). Notably, the purchasing deal marks PayPal's biggest acquisition ever and will put it in the hardware market as a direct competitor to small business-focused company Square. Both Square and iZettle sell payments processing hardware devices that help small businesses conduct both traditional credit card transactions and NFC payments from mobile wallets like Apple Pay. The deal is now expected to close in the third quarter of 2018, while PayPal says it hopes to "reap the advantages of the merger almost immediately in certain areas." “Small businesses increasingly want a full suite of capabilities across channels, a one-stop stop,” Dan Schulman, chief executive officer of PayPal, said in an interview. “IZettle was the perfect fit in many ways.” “When we think about the combinations and capabilities of PayPal and iZettle,” Schulman added, they “set us apart from anyone else.” When it does close, PayPal will gain in-store capabilities in 11 total markets that iZettle currently resides in: Brazil, Denmark, Finland, France, Germany, Italy, Mexico, Netherlands, Norway, Spain and Sweden. In the announcement, PayPal also mentioned that the acquisition allows for in-store expansion opportunities in other existing PayPal markets where

Square Announces New 'Square Register' All-in-One Point-of-Sale Device for Businesses

Square today announced the launch of Square Register, a new point-of-sale device that joins Square Stand and Square Reader, the company's existing iPad and iPhone-based point-of-sale systems. Unlike Square Stand and Square Reader, Square Register is a fully integrated solution with hardware and software designed by Square. The device features a large display that faces the cashier, and at the back is a second, smaller display that's customer-facing. The smaller display offers up a look at the order total and allows customers to swipe their cards to make a payment. With previous Square solutions, the display had to be flipped around so both customer and cashier could use it, but the two-display option alleviates that problem. Priced at $999, Square Register is meant for businesses that want to use Square's software but are looking for a more professional checkout system than an iPad or an iPhone can provide. A transaction fee of 2.5 percent plus 10 cents per transaction is also required, but all major credit and debit cards are supported and it includes protection from eligible chargebacks. Merchants can also opt to pay $49 per month for the Square Register over the course of 24 months, and there are custom pricing options for large businesses. Like other Square point-of-sale options, Square Register is equipped with NFC and will allow businesses to accept Apple Pay payments. Other features include support for accessories through a five-port USB hub and Ethernet and offline support for use even in situations with poor

Square Reader Launches in the United Kingdom for £39

Payments company Square today announced that it has officially launched within the United Kingdom, bringing its popular Square Reader to small and medium businesses within the UK Square's UK debut marks the company's first European launch, but its products are already available in the United States, Canada, Japan, and Australia. In the UK, the Square Reader will cost businesses £39, and will act just as it does in other territories by connecting to a mobile smartphone or tablet, turning the device into a payment receptacle through the use of mobile wallets or physical credit cards. Every transaction that occurs in person will have a 1.75 percent flat fee charged to businesses, while all online, telephone, and electronic invoice transactions will incur a 2.5 percent fee. After it's set up, businesses will be able to browse the Square software built for mobile devices to track real-time sales data, invoicing and digital receipts. In its announcement today, Square said that the UK is a prime target for its technology because the average UK adult carries less than £25 in cash, while 70 percent of UK shoppers prefer card payments. Despite these statistics, "half of the UK's 5.4 million small businesses do not yet take card payments." “We founded Square to empower small businesses with tools to accept all forms of payment and to make a sale anytime, anywhere,” said Jack Dorsey, CEO of Square. “We look forward to working alongside the millions of entrepreneurs and thriving small and medium-sized businesses across the UK, especially those who do not yet take card

Square Offering $350 of Free Processing Fees to Small Businesses Supporting Apple Pay

Electronic payments company Square today announced a new partnership with Apple that will allow small businesses to obtain free processing fees with Apple Pay and compatible Square Readers. Starting today, eligible small businesses across the U.S. will have the chance to process over $12,000 worth of Apple Pay payments for free (based on the 2.75 percent contactless transaction fee charged by Square), totaling $350 worth of savings in Square processing costs. To receive the free processing discounts, merchants will have to order a discounted $29 Square Reader, which comes with a free Apple Pay marketing kit. The kit includes various stickers and marketing ephemera that promotes the businesses' support of Apple Pay, as well as staff training materials. Once the merchant has their counter set up with all of Square's marketing kit display material, a simple picture sent to Square will then allow the business to start processing Apple Pay transactions for free. In the press release, Square mentioned that it hopes the new small business-focused effort will continue to educate both business owners and customers about the benefits of Apple Pay. After a focused campaign by Square took place in Portland, contactless payments "tripled over the course of the campaign." On Apple's side, the company is constantly adding new financial institutions and retailers to its Apple Pay "Where to Use" page, encouraging growth of its mobile wallet since its launch in 2014. Increased awareness for Apple Pay is also driving traction at major festivals and events. Across Kanye West's Life

Coachella 2016 Announces Apple Pay and Square Support, Exclusive Prize Deliveries With iBeacons

The Coachella Valley Music and Arts Festival recently announced a partnership with contactless payment company Square, letting attendees at the outdoor event pay for merchandise and food with the help of Square's new NFC and chip card reader (via AppleInsider). Launched late last year, the compact device lets any small business -- or any vendor at Coachella -- adopt contactless payments with support for services like Apple Pay, Android Pay, and Samsung Pay, and even accept payments through chip-enabled credit cards. According to Square's blog, the company will be supplying "every vendor" with the Square Reader, allowing for simpler payments of food, drinks, and festival memorabilia, or easing the pain of anyone who might forget their wallet. With just a tap of your phone or Apple Watch, you can pay for everything from pizza to beer to festival merch. An added plus: contactless payments like Apple Pay, Android Pay, and Samsung Pay are way faster than credit card payments (not to mention cash), so you can check out quickly and get back to the music or your beer. Apple has always been a proponent of Square's payment accessories, and began selling the NFC reader within Apple Stores earlier in February. Coachella is also continuing support for iBeacons during the festival, which it began implementing in 2014. The location-targeting technology was first used to send push notifications when attendees were in certain areas of the festival and give them info on artists and vendors. This year, iBeacons will send out "Surprise and Delight" rewards to those who sync an

Apple Now Selling Square's New NFC Reader for Apple Pay and Contactless Payments

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. 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

Square Launches NFC Reader to Bring Apple Pay to Smaller Businesses

Mobile payments company Square today announced the launch of its new NFC reader within 100 small businesses around the country, letting stores who previously were unable to accept Apple Pay -- due to the lack of a required contactless reader -- begin supporting the service (via USA Today). The small square-shaped reader will act like all other Apple Pay-accepting terminals, letting users wave an iPhone or Apple Watch near the device to complete a purchase. "Until now, technology like our new reader has been out of reach for local businesses," said Jesse Dorogusker, head of hardware at Square, told USA TODAY via email. "Now Square sellers across the country can quickly and easily accept the new forms of payment that are crossing their counter tops." Business owners can buy the Square reader for $49 to begin allowing customers the option to use Apple Pay in their storefronts. With the recent surge in popularity of chip cards, touted as being a safer and more secure physical payment alternative, the reader also has the option to accept chip cards in a small slot located on the side of the device. Square initially announced incoming support for Apple Pay last November, with no real hint as to what the device would be. The company then announced the Square reader during WWDC earlier this summer, confirming its NFC and chip-reading capabilities would bring the success of Apple Pay to businesses and merchants who as of yet hadn't had the chance to support the service. Merchants interested in adopting Apple Pay can visit Square's official website to reserve their own NFC

'Square Cash' Introduces Apple Watch App For Easy Money Transfers on the Wrist

Square today announced that its money transferring app "Square Cash" is making the leap to Apple Watch, allowing users to make and receive money transfers on Apple's new wearable device (via TechCrunch). The original iOS and Android app allows users to send money to family and friends for free (business transactions are charged a 1.9% fee) by linking a Visa, MasterCard, or Discover debit card within the app. The company promises a more streamlined money exchange with the new Apple Watch app that prioritizes favorite contacts and presents users with accept or deny transfer messages right on their wrists. After choosing a contact on the app's home screen, users can input their desired amount using a combination of six values: $1, $2, $5, $10, $20, and $100. Square also lets users collect money from others without the need of doling out personal information they're only comfortable with family and friends knowing. Called a "Cashtag," the service essentially lets each user claim a unique username -- all beginning with a "$" -- and share it with the person from which they want money. Those with the Square Cash iOS app already installed -- and automatic downloads turned on -- can expect to see the Apple Watch app on their smartwatch starting today. Everyone else can download the app for free on the App Store [Direct Link].

'Square Dashboard' Gives Businesses Ability to Track Sales in Real-Time

Square today launched a new app called "Square Dashboard," which aims to provide business owners with complete overviews of their businesses thanks to real-time data read-outs of various sales and analytic figures (via TechCrunch). The app sees Square's continued expansion away from its simple start as a third-party payment processor, and into a more widely used enterprise-focused software company. The app will allow business owners to track the sales figures of their business, and is even able to distinguish between individual locations for a franchised business. Users will be able to set dates and goals to meet, and compare items for sale, categories, and gross sales. Thanks to the app's ability to go back and see sales from previous weeks, months, and years, business owners can more easily track their busiest seasons or discover the cause behind a bump or decline in profit. Speaking with TechCrunch, Sidecar Coffee owner Andy Fuchtman noted the new app succeeds in keeping him up-to-date on the daily goings-on of his business, and even provides useful glimpses into the most popular items on sale at the shop. I use the data to help me build the schedule, to see if my ideas for the shop are working, and to help me understand the identity of my business. For example, it turns out that vanilla lattes were among our top five selling items almost every day this spring so I had my staff make and taste a vanilla latte every time they started their shift. I tried a cappuccino happy hour to promote our favorite drink to make, then I watched to see if it worked. Business