Square Launches All-in-One Payment Device ‘Terminal’ With NFC and Card Support

Payments company Square today announced the launch of a new point-of-sale hardware device called "Terminal," which combines NFC, credit/debit card swiping, and chip-based payments all in one piece of hardware. Like Square's other devices, Terminal supports Apple Pay, Google Pay, and other mobile wallets using near-field communication.


Square says Terminal can be used alongside an existing point-of-sale solution or as its own standalone payment processing system. Terminal also has an all-day battery, Wi-Fi and Ethernet internet connections, an offline mode, quick setup, fraud prevention, and is fully mobile so it can be used on a countertop or taken directly to customers. In terms of pricing, businesses will have to pay one transaction rate of 2.6% + 10¢ for every payment, and Square promises no hidden fees.
“We love how the hardware, payments, and printer are all part of one device,” said Fabrice Borg, manager of Prive by Laurent D Salon in New York, NY. “Square Terminal makes for a more seamless and professional experience when we bring the terminal to our customers and they can pay for their services right from the salon chair.”
Square first launched its original NFC reader back in November 2015, allowing any business to introduce Apple Pay support to their checkout process. Over the years the company expanded into the United Kingdom, introduced new point-of-sale devices like the Square Register, and updated the swipe-based Square Reader with a Lightning connector.


Those interested can purchase Terminal in the Square Shop for $399, or pay $37 per month for 12 months.

Related Roundup: Apple Pay
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Square Upgrades Square Reader for Magstripe With Lightning Connector

Square today announced that it has updated its original free Square Reader for Magstripe with a new Lightning connector, so sellers with the iPhone 7 and above will no longer need to use an adapter to accept payments from customers.

Prior to the Lighting connector update, the Square Reader plugged into the headphone jack on a device. Square users with the iPhone 7 or later were required to use an adapter with the Square Reader as Apple eliminated the headphone jack starting with the iPhone 7.


Square is also introducing support for using the original Square Reader with a computer using the Square Virtual Terminal. This setup is ideal for sellers who do the majority of their business on the computer, and the software is compatible with Apple's Macs and Chromebooks.

According to Square, users will need to plug the Square reader for Magstripe into the headphone jack on a computer and then open up the Virtual Terminal to begin accepting payments via computer.

Transactions made via the new Square Reader with Lightning or the Square Reader used with a computer incur a 2.75 percent fee per swipe for Visa, Mastercard, Discover, and American Express. Manually entered computer payments incur a fee of 3.5 percent plus 15 cents.

The Square Reader for Magstripe with the new Lightning connector is available from the Square website for $10 or free for eligible merchants.

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PayPal Acquiring iZettle to Compete With Square for In-Store Payments Processing

PayPal this week announced plans to acquire the Swedish-based payments hardware company iZettle for $2.2 billion, with a plan to expand its presence in brick and mortar stores thanks to iZettle's technology. The acquisition will also help PayPal bolster its business across iZettle's main markets of Europe and Latin America (via Bloomberg).

Notably, the purchasing deal marks PayPal's biggest acquisition ever and will put it in the hardware market as a direct competitor to small business-focused company Square. Both Square and iZettle sell payments processing hardware devices that help small businesses conduct both traditional credit card transactions and NFC payments from mobile wallets like Apple Pay.


The deal is now expected to close in the third quarter of 2018, while PayPal says it hopes to "reap the advantages of the merger almost immediately in certain areas."
“Small businesses increasingly want a full suite of capabilities across channels, a one-stop stop,” Dan Schulman, chief executive officer of PayPal, said in an interview. “IZettle was the perfect fit in many ways.”

“When we think about the combinations and capabilities of PayPal and iZettle,” Schulman added, they “set us apart from anyone else.”
When it does close, PayPal will gain in-store capabilities in 11 total markets that iZettle currently resides in: Brazil, Denmark, Finland, France, Germany, Italy, Mexico, Netherlands, Norway, Spain and Sweden. In the announcement, PayPal also mentioned that the acquisition allows for in-store expansion opportunities in other existing PayPal markets where iZettle isn't yet established, including the United States.

In addition to basic payments processing, Square and iZettle give businesses access to other features like invoicing software and in-stock/out-of-stock analytics. Square launched in the United Kingdom in 2017, and in the United States Square has been a partner with Apple over the past few years, launching its original NFC reader that introduced Apple Pay to small businesses back in 2015.

For PayPal, the payments company is planning its push into offline processing as it faces increased competition online. In February, eBay revealed its plan to phase out its 15-year partnership with PayPal and eventually favor payments competitor Adyen on the eBay marketplace. Then in April, Visa, Mastercard, Discover, and American Express announced an initiative that will combine their online payment options into "a single button," directly competing with PayPal for online shoppers' attention.

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Square Announces New ‘Square Register’ All-in-One Point-of-Sale Device for Businesses

Square today announced the launch of Square Register, a new point-of-sale device that joins Square Stand and Square Reader, the company's existing iPad and iPhone-based point-of-sale systems.

Unlike Square Stand and Square Reader, Square Register is a fully integrated solution with hardware and software designed by Square. The device features a large display that faces the cashier, and at the back is a second, smaller display that's customer-facing.


The smaller display offers up a look at the order total and allows customers to swipe their cards to make a payment. With previous Square solutions, the display had to be flipped around so both customer and cashier could use it, but the two-display option alleviates that problem.


Priced at $999, Square Register is meant for businesses that want to use Square's software but are looking for a more professional checkout system than an iPad or an iPhone can provide. A transaction fee of 2.5 percent plus 10 cents per transaction is also required, but all major credit and debit cards are supported and it includes protection from eligible chargebacks.

Merchants can also opt to pay $49 per month for the Square Register over the course of 24 months, and there are custom pricing options for large businesses.

Like other Square point-of-sale options, Square Register is equipped with NFC and will allow businesses to accept Apple Pay payments. Other features include support for accessories through a five-port USB hub and Ethernet and offline support for use even in situations with poor connectivity.

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