news Global payments technology provider Square has announced that its low cost ‘Square Reader’ credit and debit card reader is now available in Australia.
Square claims the device – which allows users to accept card payments via a smartphone or tablet – is the “smallest, most mobile and most affordable” card reader in the local market.
Costing $19, Square Reader plugs directly into the headphone jack of an iOS or Android smartphone or tablet, allowing sellers to accept Visa, MasterCard or American Express credit or debit card payments.
Sellers pay a blanket 1.9% per transaction on any of the cards, and funds can be deposited into any Australian bank account.
“With the launch of Square Reader in Australia, we’re empowering local sellers with the tools they need to start, run, and grow their businesses,” Jack Dorsey, CEO and Co-Founder of Square. “Our launch in Australia is an important step for our company and an exciting moment for a market so committed to innovation and an entrepreneurial small business community.”
For assistance with the transactional side of its Australian payments service, Square has partnered with Cuscal, the Australian banking services company that has over 40 years of experience in the Australian market.
Since 2009, Square said, it has processed “tens of billions of dollars” in transactions from millions of businesses across the world via its card reader.
In Australia, the company launched its first product, Square Register, in November 2014, and later opened its Melbourne headquarters in May 2015.
“Australia has always been an exciting market for Square to launch in with roughly 2 million SMBs, high smartphone and tablet adoption, and a strong entrepreneurial and startup community,” said Ben Pfisterer, Square’s Country Manager. “Local sellers have demonstrated an enthusiasm to adopt new and innovative payment solutions and Square Reader will build and complement this enthusiasm and extend it to more business owners around the country.”
“We’re excited to bring Square Reader to Australia. Having been operating locally for the past year has allowed us to develop active partnerships with a wide range of businesses that in turn continue to help us test and refine a range of exciting payment solutions designed specifically for the Australian market,” Pfisterer continued.
Square is a “simple yet powerful” solution for businesses of any type and size, he explained, adding that, in Australia, the rate paid by businesses to accept card payments can be confusing and vary greatly.
“Sellers using Square Reader pay only 1.9% per card transaction, and this is the first time Australia is seeing one low, single rate for a powerful ecosystem of tools—from integrated card payments to a powerful point of sale, analytics and reporting tools, inventory management, online invoices and digital receipts,” he concluded.
Image credit: Square