Square's new touch-screen terminal allows merchants, such as
liquor stores and hairdressers, to ring up sales, take credit
card payments processed through the company's system and print
receipts.
The terminal also accepts mobile phone and other contactless
payments via Apple Inc's Apple Pay and Alphabet Inc's Google
Pay.
Square said it believes its new terminal offers a cheaper, more
user-friendly alternative to the credit card terminals provided
by more established companies.
Businesses will be charged $399 for the device and a fee of 2.6
percent plus 10 cents for every transaction, regardless of the
type of payment used.
"Square Terminal is designed from the ground up to ensure a
feeling of familiarity, so sellers and their customers can use
it right away," Jesse Dorogusker, head of hardware at Square,
said in a statement.
The San Francisco-based company made a name for itself through
its flagship small credit card reader that turns smartphones
into payment terminals. It has been expanding into other lines
of business, including consumer lending.
Square also provides invoicing software and other tools for
small businesses.
(Reporting by Anna Irrera; editing by Jonathan Oatis)
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