Square has revealed its updated mobile card reader with support for contactless payments and transactions from mobile payment platforms. The new reader is an NFC-equipped device that supports Apple Pay, Android Pay, and other similar payment platforms, as well as allowing retailers to offer payment via credit and debit cards equipped with ‘Chip and PIN’ (EMV) security, giving retailers two new ways to accept payment for goods and services.
Measuring 2.6 inches square and 0.4 inches in height, the white plastic reader wirelessly connects to the retailer’s mobile device using Bluetooth LE. The compatibility list includes the iPhone 4 and later, the third-generation iPad, the iPad mini, iPad Air, and the fifth-generation iPod touch, as well as newer devices for iOS, as well as a long list of Android smartphones.
For NFC-based transactions, the paying device needs to touch the top and trigger the payment from their screen, while EMV payment cards can be inserted into the slot on the card reader while the transaction completes. In the event the customer cannot perform either transaction type, merchants are also provided the previous magstripe reader to swipe cards instead, though liability changes at the start of October force merchants to use EMV whenever possible.
The new Square card reader is available for reservation, priced at $49, with a per-transaction charge of 2.75 percent.
