Square shows off new hardware stand that turns iPad into a register

Posted:
in iPad edited January 2014
Mobile payment processor Square on Tuesday revealed a new hardware accessory for Apple's iPad: the Square Stand, which turns the popular tablet into a register capable of accepting credit card payments.



The Square Stand is specially designed to fit either the iPad 2 or iPad 3 and has a built-in credit card reader to allow for easy payment processing. Connecting the accessory to an iPad running Square's point-of-sale management apps allows for tracking of sales data and management of inventory and employees.

The new accessory is a more iPad-specific hardware option from Square. The company's popular card swipers are already compatible with the iPad, but the Square Stand leverages the iPad's unique properties to make a more capable point of sale system.

The Square Stand also connects to Square's Business in a Box connected register system, which can generate receipts and store cash as well.

In introducing the device, Square said that 13 businesses with 30 locations will begin using the Stand on Wednesday. Square is also in discussions with Starbucks about putting the Stand into use in the coffee chain's locations.

Square also revealed that it's processing more than $15 billion in payments on an annualized basis. The company's revenues from processing those payments ? 2.75 percent for swiped transactions and 3.5 percent + 15 cents for manually-entered transactions ? have encouraged investors to continually pump money into Square, with the firm raising $200 million in funding last fall.

The Square Stand is currently available for preorder. It will sell for $299.
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Comments

  • Reply 1 of 37
    macvictamacvicta Posts: 346member
    Apple needs to buy Square already. You want iWallet, a huge, key piece is right there before your eyes. Square plus iOS hardware plus iTunes accounts = Apple instantly out in front of the mobile processing game by miles.
  • Reply 2 of 37
    ajbdtc826ajbdtc826 Posts: 190member
    $300 is a little steep for a still-niche product. All it is is a plastic weighted iPad stand with its magnetic reader. The reader itself is less than $100
  • Reply 3 of 37
    anantksundaramanantksundaram Posts: 20,356member

    Quote:

    Originally Posted by MacVicta View Post



    Apple needs to buy Square already. You want iWallet, a huge, key piece is right there before your eyes. Square iOS hardware iTunes accounts = Apple instantly out in front of the mobile processing game by miles.


    Couldn't agree more. 

  • Reply 4 of 37
    mstonemstone Posts: 11,510member

    Quote:

    Originally Posted by AjbDtc826 View Post



    $300 is a little steep for a still-niche product. All it is is a plastic weighted iPad stand with its magnetic reader. The reader itself is less than $100


    Yeah and the plastic pellets for injection molding when bought in bulk are only worth about $5.


     


    Did you stop to consider that they have to design it, engineer it, test it, market it, patent it, write apps for it, build a banking infrastructure for it, warranty, sales, packaging, office space, warehouse space, manufacturing costs, employees wages, insurance, taxes, etc, ... oh and I almost forgot they need to profit from it too?

  • Reply 5 of 37
    2.75% plus taxes... does it secure the iPad and mount to the counter?
  • Reply 6 of 37
    Really impressive. And I love their 2.75% with no surprise fees or monthly fees. I'm likin this square company.
  • Reply 7 of 37
    shogunshogun Posts: 362member


    Looks excellent.

  • Reply 8 of 37
    rot'napplerot'napple Posts: 1,839member

    Quote:

    Originally Posted by daveinpublic View Post



    Really impressive. And I love their 2.75% with no surprise fees or monthly fees. I'm likin this square company.


     


    I've been using them and have no complaints.  

  • Reply 9 of 37
    charlitunacharlituna Posts: 7,217member
    One thing that would be a nice bonus is if they had a customer facing display mode where you could have a second screen and thus not have to swivel your register. Some businesses prefer this method, especially if it allows cx to see the order being put in, input a phone or whatever for your loyalty thing and so on.
  • Reply 10 of 37
    slurpyslurpy Posts: 5,355member

    Quote:

    Originally Posted by MacVicta View Post



    Apple needs to buy Square already. You want iWallet, a huge, key piece is right there before your eyes. Square plus iOS hardware plus iTunes accounts = Apple instantly out in front of the mobile processing game by miles.


     


    Yup. Square is already being used in Starbucks, and it could explode if Apple pushed it.  They should also buy foursquare, which has a massive, current, and accurate database of POIs. Would do wonders if integrated directly into their mapping service. 

  • Reply 11 of 37
    nomadmacnomadmac Posts: 96member

    Quote:

    Originally Posted by darkdefender View Post



    does it secure the iPad and mount to the counter?


    Yes. It secures to the counter.

  • Reply 12 of 37
    anantksundaramanantksundaram Posts: 20,356member

    Quote:

    Originally Posted by charlituna View Post



    One thing that would be a nice bonus is if they had a customer facing display mode where you could have a second screen and thus not have to swivel your register. Some businesses prefer this method, especially if it allows cx to see the order being put in, input a phone or whatever for your loyalty thing and so on.


    ....and a box of hand wipes for disinfecting post-signing..... image

  • Reply 13 of 37
    lilgto64lilgto64 Posts: 1,147member


    What about charging? was the demo simply unplugged? or does the wire feed down through the base? guessing there is not a battery in the device itself. 


     


    Which iPads does it work with? or are there different versions? a device with full size iPad for employee and iPad mini for customer facing would be kinda cool - or what about attaching the receipt printer directly in the base of the unit? for cases where there are not multiple POS units sharing a printer? 


     


    I wonder if they have any sort of chip in the unit that holds an activation key so that if someone where to force the iPad out of the unit and run of with it they would not have access to your data - then again taking your iPad home at night to "do the books" would need a way to get in - and oops I forgot to bring my iPad to work or forgot to charge it could be a problem. I suppose if you were using it as your POS you might not also take it home and let the kids play with it. 

  • Reply 14 of 37
    drblankdrblank Posts: 3,383member

    Quote:

    Originally Posted by AjbDtc826 View Post



    $300 is a little steep for a still-niche product. All it is is a plastic weighted iPad stand with its magnetic reader. The reader itself is less than $100


    You must be a cheap person.  


     


     


    $300 for this product is completely reasonable.  That swivel base isn't cheap to mfg.


     


    You try and design something like that, mfg it, and the put it out on the retail market and try to make some money.


     


    Remember, they have tooling and R&D to recoup, marketing, mfg, etc. and this is the retail price, not cost.  Plus, they aren't making these by the tens of millions, these are a niche product.

  • Reply 15 of 37
    When can I add one for my Nexus tablet or Kindle Fire...HD of course??

    And how about the cash register accessories? Do they have those for my tablets?


    JK.

    Yet this is just one more of umpteen thousand examples of where iPad is ahead of the competition by miles, yet doesn't show up in the only stat the simple-minded use: global "shipments" marketshare.
  • Reply 16 of 37
    stniukstniuk Posts: 90member
    I don't know if they sell them here but in the UK the swipe thing is dead it's all smart chip and pin cards here. I wouldn't want to have to type my pin in on that screen with half the shop watching.
  • Reply 17 of 37

    Quote:

    Originally Posted by MacVicta View Post



    Apple needs to buy Square already. You want iWallet, a huge, key piece is right there before your eyes. Square plus iOS hardware plus iTunes accounts = Apple instantly out in front of the mobile processing game by miles.


     


    Quote:

    Originally Posted by Slurpy View Post


     


    Yup. Square is already being used in Starbucks, and it could explode if Apple pushed it.  They should also buy foursquare, which has a massive, current, and accurate database of POIs. Would do wonders if integrated directly into their mapping service. 



     


    I agree with the both of you. Apple buying the two squares (Square and Foursquare) would be an excellent use of their billions in the bank. Excellent ideas both.

  • Reply 18 of 37
    constable odoconstable odo Posts: 1,041member
    Apple has the cash to purchase companies, but Apple will do absolutely nothing and just let some rival take it away from them and turn it into a goldmine.
  • Reply 19 of 37
    paxmanpaxman Posts: 4,709member

    Quote:

    Originally Posted by GadgetCanada View Post


     


     


    I agree with the both of you. Apple buying the two squares (Square and Foursquare) would be an excellent use of their billions in the bank. Excellent ideas both.



    Yes, Apple should buy Square and re-invent mobile payment by lowering the tariff by half. Not sure how Square processes the transactions but merchant banking is very expensive. Some companies make money from each transaction... a LOT of money. Apple would be doing it to sell devices. 

  • Reply 20 of 37
    SpamSandwichSpamSandwich Posts: 33,407member

    Quote:

    Originally Posted by anantksundaram View Post


    Couldn't agree more. 



     


    Unfortunately, they're going to want a couple billion for their company at this point. Not exactly the kind of acquisition Apple typically makes.

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