London-based payments firm Square has launched a contactless card reader that accepts payments from credit cards, Android Pay and Apple Pay in a bid to make transactions easier for small businesses. The new device is the first of its kind designed specifically for use with mobile payments, according to a press release issued by Square. Business owners will just pay 1.9% of each transaction with a minimum $1 purchase. Square can be used to send invoices, with the firm then taking 2.2% of the total payment. The device also has a card slot to allow for chip and pin payments.
London-based payments firm Square has launched a contactless card reader that accepts payments from credit cards, Android Pay and Apple Pay in a bid to make transactions easier for small businesses. The reader, roughly the size of a palm, costs around $40 and doesn't include any monthly fees. Business owners will just pay 1.9% of each transaction with a minimum $1 purchase. Square can be used to send invoices, with the firm then taking 2.2% of the total payment. The device also has a card slot to allow for chip and pin payments.