Square Reader Launches in the United Kingdom for £39

Payments company Square today announced that it has officially launched within the United Kingdom, bringing its popular Square Reader to small and medium businesses within the UK Square's UK debut marks the company's first European launch, but its products are already available in the United States, Canada, Japan, and Australia.

In the UK, the Square Reader will cost businesses £39, and will act just as it does in other territories by connecting to a mobile smartphone or tablet, turning the device into a payment receptacle through the use of mobile wallets or physical credit cards. Every transaction that occurs in person will have a 1.75 percent flat fee charged to businesses, while all online, telephone, and electronic invoice transactions will incur a 2.5 percent fee.


After it's set up, businesses will be able to browse the Square software built for mobile devices to track real-time sales data, invoicing and digital receipts. In its announcement today, Square said that the UK is a prime target for its technology because the average UK adult carries less than £25 in cash, while 70 percent of UK shoppers prefer card payments. Despite these statistics, "half of the UK's 5.4 million small businesses do not yet take card payments."
“We founded Square to empower small businesses with tools to accept all forms of payment and to make a sale anytime, anywhere,” said Jack Dorsey, CEO of Square. “We look forward to working alongside the millions of entrepreneurs and thriving small and medium-sized businesses across the UK, especially those who do not yet take card payments.”
In the United States Square has been a partner with Apple over the past few years, launching an NFC reader that introduced Apple Pay and other mobile wallets to small businesses for the first time, while also recently giving them the opportunity to obtain free processing fees when processing transactions through Apple's mobile wallet.


Discuss this article in our forums

Square Offering $350 of Free Processing Fees to Small Businesses Supporting Apple Pay

Electronic payments company Square today announced a new partnership with Apple that will allow small businesses to obtain free processing fees with Apple Pay and compatible Square Readers. Starting today, eligible small businesses across the U.S. will have the chance to process over $12,000 worth of Apple Pay payments for free (based on the 2.75 percent contactless transaction fee charged by Square), totaling $350 worth of savings in Square processing costs.

To receive the free processing discounts, merchants will have to order a discounted $29 Square Reader, which comes with a free Apple Pay marketing kit. The kit includes various stickers and marketing ephemera that promotes the businesses' support of Apple Pay, as well as staff training materials. Once the merchant has their counter set up with all of Square's marketing kit display material, a simple picture sent to Square will then allow the business to start processing Apple Pay transactions for free.

square-apple-pay-no-fees-2
In the press release, Square mentioned that it hopes the new small business-focused effort will continue to educate both business owners and customers about the benefits of Apple Pay. After a focused campaign by Square took place in Portland, contactless payments "tripled over the course of the campaign." On Apple's side, the company is constantly adding new financial institutions and retailers to its Apple Pay "Where to Use" page, encouraging growth of its mobile wallet since its launch in 2014.
Increased awareness for Apple Pay is also driving traction at major festivals and events. Across Kanye West's Life of Pablo pop-up shops in August there was significant usage of contactless transaction in cities across the U.S., from San Francisco (28%), to Dallas and Houston (both 14%). Together with Apple Pay, Square is taking this approach nationwide to help move the payments industry forward through initiatives that educate sellers and customers.

“It’s no secret that chip cards can be slow, which is why we built our reader to also accept contactless payments, a faster and safer way to pay,” said Jesse Dorogusker, Square’s Hardware Lead. “Anything we can do to make a seller’s experience faster and safer, including working with Apple to encourage Apple Pay usage, is an investment worth making.”
For each business taking part, today's offer lasts until the business reaches the $350 cap of free Apple Pay processing fees, or a year passes from the time they enroll in the offer, "whichever occurs earlier." After either of these contingencies is reached, the standard processing fees will begin to apply. Merchants have all year to take advantage of Square's offer, with enrollment deadlines hitting December 31, 2017.

Square updated its line of payment solution devices in 2015 with a reader that supports NFC payments, letting locations which previously could not support Apple Pay -- due to the lack of a required contactless reader -- begin allowing customers to pay with the service. Apple has supported the Square Reader since early 2016, when it began selling the NFC reader both online and in Apple retail stores for $49.

Related Roundup: Apple Pay
Tag: Square

Discuss this article in our forums