• Square Launches a New Mobile Card Reader Compatible with Apple Pay



    Square recently officially launched its new mobile card reader that is compatible with Apple Pay. This new device is something that could possibly help boost the Apple Pay platform’s support outside of major retail chains.

    It should be noted that the Contactless Chip Reader supports not only Apple Pay but Android Pay, Samsung Pay and chip-based credit and debit cards. The device works with Square’s existing point-of-sale app and includes the company’s previous magstripe card reader for backwards compatibility. The Contactless Chip Reader (CCR) costs just $49, with each transaction carrying a 2.75% fee.

    The Cupertino California company and Square originally teased the new reader at the Worldwide Developer Conference this past June but didn’t offer a precise release date at the time.

    As of right now, one of Apple Pay’s largest obstacles has been gaining the support of small businesses. Though Apple has made several attempts to push into that market, many independents tend to be unable to afford NFC-equipped terminals and indeed man national US chains have yet to finish upgrading to the new device.

    PayAnywhere recently launched its own Apple Pay-ready mobile reader of its own though the company and its product are nowhere near as popular as Square, which is one of the most popular payment options for small businesses.

    We’ll have to see how the new mobile card reader helps Apple Pay use.

    Source: Square (Contactless Chip Reader), PayAnywhere
    This article was originally published in forum thread: Square Launches a New Mobile Card Reader Compatible with Apple Pay started by Akshay Masand View original post
    Comments 2 Comments
    1. Lawrence Coleman's Avatar
      Lawrence Coleman -
      On another note, they can sell this reader for $49? If their fees are competitive with other processors, how can anyone claim price is the barrier to merchants upgrading to NFC?
    1. Perceptum's Avatar
      Perceptum -
      Quote Originally Posted by Lawrence Coleman View Post
      On another note, they can sell this reader for $49? If their fees are competitive with other processors, how can anyone claim price is the barrier to merchants upgrading to NFC?
      Because Square doesn't integrate into existing POS systems.
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