Square Terminal, costs a flat $439 price, and charges a 1.6 percent clip. 

This new payment terminal,  the upsized gadget will feature a colour touch screen, accept all cards bank terminals currently do but will not lock clients into annual or monthly contracts or minimum transaction volumes.

Twitter CEO Jack Dorsey, said,  “We’re growing with our sellers, introducing new hardware that is still easy to access and quick to set up, but is also designed specifically to give bigger and more complex businesses better options when it comes to choosing a payments platform.”

The terminal will accept proprietary debit cards – that the good old fashioned SAV or CHQ cards running over eftpos rails – rather than making consumers try and dig out a scheme substitute with a Mastercard or Visa bug.

Jesse Dorogusker, Square’s head of hardware, told iTnews, “They don’t have to sign lock in contracts. No disconnect fees. These things are not good for small, medium or large business.”

Sales and management software that ships native and can be integrated directly into Xero and MYOB is its biggest selling point. And to prevent fraud, the machine runs Square’s proprietary security smarts to spot dodgy cards, but confirmed it does not indemnify merchants against card present fraud. 

Source: Business IT


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