Square is targeting small-and-medium-sized businesses (SMBs) and retailers with a new hardware bundle that turns the iPad into a cash register.
The ‘Business in a Box’ hardware bundle starts from $299, a price which gives small-and-medium-sized businesses (SMBs) two Square Readers, Heckler Designs’ WindFall iPad stand and APG’s Vasario 1616 cash drawer which can be operated by an iPad.
Those SMBs with enough cash in their pocket to plump for the $599 version will receive all the above as well as a Star Micronics printer for printing receipts from the iPad. In both packages, customers will need to supply their own iPad because Apple’s tablet is not included.
The idea of the package is that SMBs fit all these adds-on to their iPads, and then use the Square Register iPad app with one of the included credit card readers to process payments.
Square, which has previously claimed iPads will replace cash registers by early next year, makes money by charging a credit-card processing fee of 2.75% on each transaction or a flat rate of $275 per month for companies processing orders up to $250,000 per year.
The San Francisco-based firm says that three million businesses and individuals already accept Square payments and adds that it is processing $10 billion a year in mobile payments.