Square launches a new piece of hardware today – the Square Terminal.
As the head of hardware, Jesse Dorogusker, explained, the terminal fills a gap in the company's product range – unlike the simple card reader, but offers an all-in-one hardware experience (no phone or tablet required) more affordable than the Square Register.
Dorogusker suggested that it is really designed to replace the "outdated" credit card terminals that you encounter, types of shops (like the gray block that sits on the counter of my local bodega). He argued that these terminals are often associated with onerous contracts for the business owner, and they are also not a great experience for consumers.
On the other hand, the new terminal offers a more square experience (1
"One of the really fun things we've done about this product is that in addition to Square Payments, there's the opportunity to unlock people in new ways," Dorogusker said.
For example, he said that the beta testers included a restaurant that could now process payments at the customer's table, allowing customers to pay while they are still in their chair and a plastic surgeon whose patients can settle the bill while in the office Privacy of the treatment room are.
Dorogusker confirmed that restaurants in some countries already bring wireless card terminals to the customer desks, but he said they do not have the other advantages of a square-shaped terminal, such as a display that allows you to to see the price of each item you buy. There's also the ability to accept payments from smartphones and other devices through Apple Pay and Google Pay, and there's Square's two-second chip card turnaround time.
Square Terminal costs $ 399. Companies that are new to Square and are ordering now also receive a $ 300 processing credit. With or without the balance, Square processes these payments on the same easy terms that it offers to everyone else – 2.6 percent plus 10 cents for each transaction.