Apple Now Carrying Square Readers in Store and Online

Posted by at 12:55 am on April 18, 2011

Apple has started officially selling the Square Payment readers in both its online Apple Store and its retail shops this week, including in a new black color.

The reader costs $10 and includes $10 of Square credit to handle the first few transactions. Square may be breaking even or losing money on the device sales but is likely counting on the lifetime income from each reader and the sheer exposure to make up for the deficit.

Square has often been considered a showcase for Apple and was one of the primary examples in its iPad “Year One” video, showing how it could replace traditional payment machines. The company has grown to where it’s now handling over $1 million in payments per day and 100,000 new sellers per month. It recently ran a Times Square ad that reinforced its fast growth.

The Apple retail exclusivity is a blow to VeriFone. The establishment payment processor already has its own system for iOS but has been losing ground to Square’s cheaper and more web-focused system.

Leave a Reply

Sign Up For Our Newsletter

Sign up to receive breaking news
as well as receive other site updates

Enter your Email


Preview | Powered by FeedBlitz

Log in

Copyright © 2008 - 2020 · StreetCorner Media , LLC· All Rights Reserved ·