Will Apple (NASDAQ:AAPL) soon become a major player in the retail point-of-sale system business? Mobile payment company Square is teaming up with Apple to sell an iPad-based physical point-of-sale system for business owners reports The Inquisitr. The Square Stand will retail for $299 at various Apple Store locations beginning on July 9.
The Square Stand converts Apple’s iPad into a convenient credit card processor and POS system. The iPad attaches to the Stand through a 30-pin connection port while the credit card data is transmitted wirelessly through a Wi-Fi or 3G connection.
Unfortunately this means that only the iPad 3 and iPad 2 devices are compatible with the Square Stand. However, the company is expected to eventually release a Lightning-compatible version of the device sometime in the near future.
Although the Stand will be offered separately, users can also purchase a complete kit that includes accessories like a cash drawer and a receipt printer. Users can also hook up their own point-of-sale accessories if they so choose. Using Square’s Register app, users can attach peripherals such as a barcode reader or additional printers.
Besides the advantages offered by the iPad’s portability, the Square Stand also features a low entry fee that should attract small business owners. Square accepts all major credit cards and charges a 2.75 percent fee on all transactions. Besides being offered in Apple Stores, the device will also be available online from the Square website.
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