Users can now accept mobile payments, with a tap on a smartphone.
Square has announced that it will allow users to accept mobile payments, making transactions as simple as a tap on a smartphone. Using a new contactless reader and chip-card reader, the Square reader allows customers to hold their phone close to the device or insert a chip card to make a payment with no swiping required.
The service is being tested by 100 local business owners in Chicago, New York, San Francisco and St. Louis. The new Square Reader costs just $49 and optimizes for accepting authenticated EMV and contactless payments. “We’ve always wanted to offer our customers the option to pay with Apple Pay and we’re thrilled that Square has helped us make this a reality,” Joshua Kulp, executive chef of Honey Butter Fried Chicken in Chicago told Yahoo Finance.
The move is well-timed for Square, who recently offered in IPO to less than desirable response. The popularity of the new Apple Pay-friendly system is such that Square noted “We’ve had such high demand for the new Square contactless and chip reader that it’s taking us longer than expected to fulfill every order.”
“Until now, technology like our new reader has been out of reach for local businesses,” 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 countertops.”
The Square website explains, “We built our new reader so every business in the neighborhood could accept Apple Pay and chip cards – because we believe everyone deserves faster, more secure transactions.” The Square contactless and chip reader connects to your device wirelessly—all you need is a compatible iOS or Android device. It also works with Square Stand; plug it into the hardware hub for instant setup.
