WWDC15 has been full of excitement as Apple announces a number of interesting changes. Today, we saw a unique push for Apple Pay as Square revealed its new contactless chip reader. While this new reader accepts Apple Pay and payments through other NFC compatible devices, Square is definitely marketing this reader for Apple Pay. We might as well call it the Apple Pay Reader.
The Apple Pay reader will also accept Chip cards or EMV cards, but will not accept card swiping. But don’t worry; if you order the new reader, Square will send you a Square magstrip reader as well. So you can take payments using the “old school” method. The two readers can be connected to your device simultaneously so that you can take any form of payment without having to sync a new reader.
Apple Pay has already made a splash and Square’s Apple Pay reader will only assist Apple as it attempts to dominate the wireless payment market. Square is one of the most popular devices used to accept payments for small businesses, but don’t forget that the Apple Pay reader will also accept other forms of NFC payments. This means that if you have an Android phone, you’re not left out. You can use Android pay or other forms of NFC payments to make wireless purchases from your phone or tablet.
Unlike the old Square reader, the new reader connects wirelessly to your phone or tablet, however, be sure to check if your device is compatible with the new reader, as Square has indicated that not all Android devices are compatible as hosts to the contactless reader
For those of you who have a registered Square Account, you might even be eligible to receive your first reader free. If you do not currently have a registered Square Account, you may also be eligible for the new reader, but will need to fork out an initial $49 dollars first. Luckily, you can be reimbursed through future processing fees.
For those who will be using the new reader, Square will continue to take their cut. As with past card readers, Square will take their usual 2.75% fee for purchases made through the Square reader.
At this time there is no official release date for the new Square reader, however, Square’s website indicates that the reader will be available Fall of 2015.
While Android has provided the ability to make purchases using your NFC enabled smartphone for years now, the concept never really took off until Apple Pay entered the market. I have owned an Android phone for over 5 years now and have only used its NFC payment method twice. For the record, that was primarily due the fact that Google Wallet gave you $10 when you signed up for their service. Needless to say, I spent the $10 and never used it again. As Apple Pay continues to grow, Google has some catching up to do–and we can see them making a push with the release of the extremely simplified Android Pay. Only time will tell which payment method will become more popular; especially if Apple continues to bring Android users into their world.
What are your thoughts? Do you think Apple will dominate the wireless payment world? Or will Android be able to make up ground with Android Pay? Will Square’s new wireless and chip reader help push Apple Pay over the top? Let us know what you think in the comment section below.