May 24, 2011 @ 9:13 pm
Square Releases iPad-Based Cash Register
You might soon be able to add cash registers and credit-card terminals to the growing technological dustbin that includes hardwired phones, CDs and cars that run only on gasoline. A mobile-transaction company named Square has announced a new iPad-based point-of-sale solution called Square Register that seeks to replace those payment devices.
Jack Dorsey, Square’s CEO, said cash registers and credit-card terminals are “relics of an expensive, complicated and impersonal commercial transaction system.” The company is also unveiling Card Case, an application that allows a customer’s smartphone to be used for transactions and marketing with retailers who have Square Register.
Free Download, Transaction Fee
The company has been best known for a card reader that enables an iPhone or Android smartphone to accept credit cards.
The Square Register application allows businesses to manage store inventory, check daily transactions, update pricing, automate checkout, create digital receipts, and maintain virtual storefronts. It’s available as a free download, and there is a 2.75 percent fee for each transaction. Receipts can be electronically sent to customers, foregoing the need for paper receipts.
A Tabs feature is the equivalent of one-click purchasing on the web. Customers use Square’s new Card Case application on their smartphone, and, when they open a tab on their device, their stored identity can be validated and their purchase approved with a single touch. The transaction does not need a physical credit card.
Card Case can be obtained by a smartphone user via a download link sent by a retailer where a customer has made a credit-card purchase. The Case gets filled with virtual “cards” from participating retailers that the user has visited. Each card, or tab, contains the customer’s purchase history, receipts from that retailer, featured items on sale, customized offers, and even aggregate information on what other customers are buying at the store.
Rollout Planned
The…
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