Canadian businesses will now have a faster, cheaper, and simpler way of implementing contactless payment systems.
Square, Inc., a San Francisco, Calif.-based financial services, merchant services aggregator and mobile payment company, has launched its contactless and chip reader for local businesses across Canada to make it easier for customers to pay with debit and credit cards.
The new reader allows customers to tap their contactless-enabled debit card or credit card to complete the transaction in seconds. It supports chip-embedded cards as well as mobile device payments like Apple and Android Pay.
“Businesses of all sizes should have access to technology that can help them succeed – starting with an affordable, quick and easy way to accept more ways their customers want to pay,” Jack Dorsey, CEO of Square, says in an Oct. 3 press release. “We believe everyone should be able to participate and thrive in the economy, and by leveling the playing field for local businesses, we can shorten the distance between having an idea and making a living from it.”
Square’s latest data shows that 70 per cent of Square sellers in Canada do not accept card payments before using the company’s tools, and this new reader will help those businesses get started in minutes. The contactless and chip reader was designed partly by Square’s hardware engineers in Toronto.
“We are thrilled to bring even wider availability and acceptance of Interac Flash to local businesses across Canada through Square’s contactless and chip reader,” says Mark O’Connell, president and CEO of Interac Association and Acxsys Corporation. “We see mobile and contactless payments as the future, and Canadian customers and businesses are well positioned to adopt new, safe and fast payments technology.”
It is available now for order at Square Shop for $59, with free shipping nationally, as well as at retailers such as Staples, Apple, London Drugs, and Amazon.ca, in the coming weeks. To celebrate its launch, the company will be waving transaction fees on debit for all new and existing Square sellers until the end of 2017.
“Our customers are surprised they can have the same quick and easy payment experience at our shops as they do at larger retailers,” concludes Square seller Anet Gesualdi, co-owner of AG Macarons. “Being able to accept contactless cards, including debit, and mobile payments shows our customers we are a forward-thinking business.”