Square begins pre-orders for EMV products
Company will release a standalone chip card reader for $29 and a Square Stand accessory for $39.
Square today announced it has begun to accept pre-orders for the EMV card reader it first announced in July. The new device costs $29 and merchants can expect to receive them in early 2015, according to a press release.
Square also announced pre-orders for a chip card accessory for Square Stand, the company's product set for merchants who use Apple's iPad as a register. The accessory connects via USB port to any Square Stand, allowing sellers to accept chip cards. The chip card accessroy costs $39.
"We’ve simplified the traditional cumbersome, power-hungry EMV terminal that costs sellers hundreds of dollars and requires complicated contracts," said Jesse Dorogusker, head of hardware at Square. "Our chip reader is designed with custom components and software to offer every seller a beautiful, secure, and incredibly affordable EMV solution."
Square outlined some of the reader's features in a press release:
- Compact and portable: The Square Reader for chip cards is small enough to fit in a pocket and works with iPhone, iPad, and Android devices.
- Dual acceptance of both chip and magnetic-stripe cards: with a built-in readhead and a chip connector, customers can choose how they want to pay and sellers never have to miss a sale.
- End-to-end encryption: Custom silicon and a bespoke magnetic readhead ensure that credit card information is encrypted at the moment of swipe or dip, protecting the buyer and seller.
- Active tamper detection: Square Reader for chip cards has multiple layers of security designed to detect and defend against misuse, providing a secure transaction.
- Same revolutionary sign-up experience: No merchant accounts, no long-term contracts—start accepting chip cards from the counter or your pocket right away.