New Square Stand Embraces Apple Market

130514_TECH_SQUARESTAND.jpg.CROP.rectangle3-largeSquare unveiled its new Stand terminal earlier this week, which is designed to attach to a merchant’s iPad for payment processing anywhere and everywhere. Connecting to an iPad 2 or 3, the Square Stand brings Apple’s user-friendly interface to small businesses starting at $299. Square Stands began shipping on Monday the 8th and became available in Apple Stores Tuesday the 9th.

Offering a flat 2.75% transaction rate without card swipe fees, the Stand bypasses several of the intermediary parties that are typical of payment pathways, making it very practical to implement. The only thing any merchant would need to start making credit transactions is an active bank account. Since the pathway can be run through Wi-Fi or 3G/LTE, wireless communication between hardware and the merchant’s bank account should be a breeze.

The interface looks impressively simple on the merchant’s side, allowing him or her to set images of the items available for sale along with their prices. After sliding a Visa, Mastercard, American Express or Discover card, the merchant can turn the Stand to face the customer who then signs for the transaction directly on the iPad screen with his or her finger.

Additionally, Square offers optional receipt terminals and cash tills to increase the number of options available to any particular customer. The terminal can accept Square Wallet tap to pay transactions, which are growing in popularity. The Square Stand also offers a price scanning gun to help make check out even easier.

The stand relies on a 30-pin connector for its interface with the iPad, meaning the most recent models aren’t yet compatible with the Square Stand. Square is almost certain to release a new model of Stand that is compatible with the new Lightning drive models.

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Posted on Wednesday, July 10th, 2013