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

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Apr 12, 2001
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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.

Article Link: Square Launches All-in-One Payment Device 'Terminal' With NFC and Card Support
 

Sasparilla

macrumors 68000
Jul 6, 2012
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2,445
Actually looks like a nice device. Although $400 for that, then 2.6% + Credit Card Transaction fee (~3.5%) and you're talking real money (5%+ for every transaction).

The government should provide an electronic payment process with no transaction fees and that is private (a true cash equivalent).
 
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nutmac

macrumors 601
Mar 30, 2004
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Look great. $399 isn't bad considering it even has a roll printer built-in to it.

The only limitation seems to be omission of cash transaction data entry.
 
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jdusoccer12

macrumors regular
Aug 3, 2008
155
36
Actually looks like a nice device. Although $400 for that, then 2.6% + Credit Card Transaction fee (~3.5%) and you're talking real money (5%+ for every transaction).

The government should provide an electronic payment process with no transaction fees and that is private (a true cash replacement).

There is only a 2.6% + $0.10 fee per transaction. That covers paying Square and the credit card company.
 
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erinsarah

macrumors 6502
Mar 17, 2011
362
499
I'm hoping this (or something like it) becomes huge in the restaurant industry, since restaurants seem to be the last frontier for ApplePay and the like, as you can't carry a cash register to a diner's table.
 
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Sasparilla

macrumors 68000
Jul 6, 2012
1,516
2,445
There is only a 2.6% + $0.10 fee per transaction. That covers paying Square and the credit card company.

That's fantastic. I know American Express has higher transaction fees than Visa or MC and it was like 4.5% not that long ago. I've heard Visa / MC transaction fees for credit cards (not debits) are 3.5% or so.

They must have negotiated a seriously low rate with them somehow.
 
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mdriftmeyer

macrumors 68040
Feb 2, 2004
3,297
1,022
Pacific Northwest
Actually looks like a nice device. Although $400 for that, then 2.6% + Credit Card Transaction fee (~3.5%) and you're talking real money (5%+ for every transaction).

The government should provide an electronic payment process with no transaction fees and that is private (a true cash equivalent).

Why? They already offer one: cash.
 
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entropys

macrumors 6502a
Jan 5, 2007
766
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Brisbane, Australia
If the answer is a role for government you are asking the wrong question.
In fact what you are asking for is for someone else to pay for the cost of the process than yourself. At Government prices.
Other Peoples’ money (OPM) is always the best money to use isn’t it!
 
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aimbdd

macrumors 6502a
Dec 10, 2008
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East Cost
If that’s the credit card rates you pay, you need a different processor. Ours average less than the 2.4%, and it’s a small business.
That's fantastic. I know American Express has higher transaction fees than Visa or MC and it was like 4.5% not that long ago. I've heard Visa / MC transaction fees for credit cards (not debits) are 3.5% or so.

They must have negotiated a seriously low rate with them somehow.
 
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Fzang

macrumors 65816
Jun 15, 2013
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I'm hoping this (or something like it) becomes huge in the restaurant industry, since restaurants seem to be the last frontier for ApplePay and the like, as you can't carry a cash register to a diner's table.

It’s pretty huge in Europe. For expedited service I usually go up to the register instead of waiting for the waiter to come around.
 
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mrow

macrumors 6502
Aug 15, 2009
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I'm hoping this (or something like it) becomes huge in the restaurant industry, since restaurants seem to be the last frontier for ApplePay and the like, as you can't carry a cash register to a diner's table.

Seriously!

I just got back from a few weeks in Europe. Practically every restaurant we went to had wireless terminals they brought to your table to pay and Apple Pay worked with all of them. It was so nice. They were also about half the size of this Square unit, which is likely only this large to accommodate that large color screen. The ones in Europe were older with small black and white/green and white screens. I do wonder if this screen is overkill and they would have been better off making the screen, and therefore the whole unit, smaller and easier to carry around.
 
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mrow

macrumors 6502
Aug 15, 2009
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I think the square one is that size to hold a paper roll and print a receipt.

Edit: I said that as a joke, but it actually does do that!

Most of the ones we encountered in Europe also printed receipts, they just used smaller rolls of narrower receipt paper.
 
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zakarhino

macrumors demi-god
Sep 13, 2014
981
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Berkeley
Actually looks like a nice device. Although $400 for that, then 2.6% + Credit Card Transaction fee (~3.5%) and you're talking real money (5%+ for every transaction).

The government should provide an electronic payment process with no transaction fees and that is private (a true cash equivalent).

Well yes of course... of course the US government of all people would be interested in giving people anything that enhances their privacy :)
 
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raybob

macrumors newbie
May 12, 2017
28
66
Los Angeles
There is only a 2.6% + $0.10 fee per transaction. That covers paying Square and the credit card company
There is only a 2.6% + $0.10 fee per transaction. That covers paying Square and the credit card company.
In most restaurant operations, 2.6% plus 10 cents will cost you more than traditional pricing. On a $20 ticket size, it will cost you 3.1% ($0.10/ $20 = 0.5%) + 2.6%=3.1% thats a lot more than what square used to charge before (2.75%).
It will cost $140 more monthly for a restaurant selling $40K a month.
 
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raybob

macrumors newbie
May 12, 2017
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Los Angeles
I don’t understand why all the POS manufacturers in the US insist on horizontal chip card slots when it is immeasurably easier to insert chip cards vertically. Of course I also don’t understand why chip readers take 10x longer in the US either.
Not all are horizontal (clover mini is vertical). Most new terminals have quick chip which is lightning fast including square
 
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EMV Guy

macrumors newbie
Oct 18, 2018
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0
I don’t see why it shouldn’t be L3 certified. I’m not sure if square os a fan of pin Debit unless they plan to use this device in Europe & Canada too.
My customers want to use pin debit. So when they choose debit. Does it prompt them for their pin or does it ask them to remove their card.(Swipe on removal)
 
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mrow

macrumors 6502
Aug 15, 2009
352
492
I don’t understand why all the POS manufacturers in the US insist on horizontal chip card slots when it is immeasurably easier to insert chip cards vertically. Of course I also don’t understand why chip readers take 10x longer in the US either.

I feel like a broken record continually mentioning my recent trip to Europe but most of the readers I encountered had horizontal slots too.

Of course most (all?) European credit cards have contactless chips built in to them which, basically, work on the same technology as ApplePay/GooglePay/etc. so the slot is unnecessary.
 
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