Credit card processor Square is about to deliver a physical Point-of-Sale (POS) system via the Apple retail stores.
The Square Stand turns a users iPad into a full credit-card terminal and full POS system that works with Square’s Register app and external devices such as cash drawers, barcode scanners, receipt printers, and, of course, the payment card reader.
The Square Stand is $300 and will begin shipping on Monday, July 8 via the Square website and July 9 from Apple US stores.
The Square Stand supports a 30-pin connection, which means only iPad 2 and iPad 3 devices can be used with the device. Square is expected to release a Lightning-compatible version of the stand in the near future.
Square will offer the Stand as a stand-alone device and as a complete kit that features a “business in a box” with a receipt printer and cash drawer.
If you have failed to check out the Square credit card processing system, the company offers a simple way for business owners to quick setup an account and link to a bank account. Once setup, a user receives a Square reader which plugs into their mobile devices 3.5mm headphone jack. The product requires a user to send credit card data over Wi-Fi or 3G/LTE connections. The Square reader is available for Apple iOS and Google Android Devices. Square is most popular at trade shows thanks to its ability to process credit cards from virtually any location.
Square charges a flat 2.75 percent fee with no card swipe fees. Customers are not required to have a merchant account and no other fees are required to use the Square service.
With Square Stand, customers can accept cash, Visa, Mastercard, American Express, and Discover credit cards.
Do you think the Square Stand will allow more businesses to switch from traditional credit card processing to a more advanced mobile ready system?