Block, the Jack Dorsey co-founded payments company (formerly known as Square), is now introducing a new iPad stand that comes with an in built near-field communication (NFC) reader for payments in the US. The new Square Stand is only compatible with NFC or chip cards. For those who still want to accept payments with magnetic stripe cards, they'd have to order a free Square Reader for magstripe, as per the company. The iPad Square Stand by Blocks is for retail users who use iPads as sales terminals.
The new Square Stand is now available at $149 (roughly Rs.11,345), but it only works with the entry-level iPad (7th generation and later), the 3rd-generation iPad Air, and the original 10.5-inch iPad Pro. Customers can also purchase an 8th-generation iPad directly from Square's website along with the Square Stand.
By integrating a credit card reader into the stand itself, the technology will simplify the process for merchants because they won't be required to attach an external card scanner. The Square Stand has inbuilt guiding LED to make paying easy for the customers. Block will also provide the point-of-sale software and payments integration, which can help the sellers life simpler. Customers can also get a full clear picture of the payment details and also choose how much tip to add to the bill.
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