Square introduced their smartphone credit card reader a few years ago and now processes millions of dollars per day in transactions. To a large degree, the users of Square’s smartphone card reader have been small businesses, such as food trucks and those alike.
Today, Square introduced an iPad stand with a built-in card reader, that takes aim at the traditional cash registers long used by brick and mortar businesses. Much like the Square Card reader for smartphone, the iPad stand uses the company’s accompanying app and can process payments via credit card and any users who use Square’s customer facing application. What separates it from the pocket-sized reader is that it can be connected to a variety of peripherals, including a bar code scanner, printer, and even a cash drawer for added security.
“Local business owners take as a given that they need an ugly, slow, expensive, and complicated point of sale system cluttering their counter,” said Jack Dorsey, co-founder and CEO of Square.
Interested parties will need an iPad 2 or 3, though Square says that a Lightning compatible stand may come later this year. Fees should remain the same, though the stand itself will cost $299, which is a stark contrast to the free smartphone reader that Square has long provided when a customer signs up.
The Square Stand will go on sales July 8th at Best Buy and other retail stores.