Square has now launched in the UK, allowing small businesses to accept payment by both cards and Apple Pay through its iPhone- and iPad-connected card readers. Even better, UK businesses will pay a lower transaction fee than Square charges in the USA.
A small white box combines a slot for chip-and-PIN cards and an NFC reader for contactless cards and Apple Pay …
The reader is used with a companion app on an iPhone or iPad, offering businesses a completely mobile payment system.
The Square Reader costs £39, with businesses paying a 1.75% commission on each in-person transaction – cheaper than the 2.75% the company charges in the USA. Online transactions are charged at a higher rate of 2.5% to reflect the higher fraud risk.
VentureBeat reports that Square tested the system with a number of UK retailers prior to launch, Piano Bar Soho being one of them.
“Square has been a perfect fit for my business, allowing me to easily take card payments both at the table and at the door,” said the Piano Bar Soho owner George Hudson. “It’s intuitive for our staff to use with no training necessary, and the real-time sales data helps me keep track of how the business is doing, even when I’m in a remote location.”
We provided a hands-on look at the US version of the system last year. The company launched a complete iPad-based point-of-sale system earlier this year.
UK businesses can sign up here.
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