According to online media outlet businessweek.com, before being made available in Wall-Mart stores, Square’s device has been sold via about 200 Apple stores, as well as via Target, RadioShack and Best Buy outlets.
The technology employed by Square for this device works on Apple’s iPhone and iPad as well as Google Android. The card reader is plugged into the headphone jack of the mobile device which allows merchants to swipe customers’ credit or debit cards.The target section of Square is small businesses that might be in a situation where they cannot afford the devices to handle credit card payments. According to the same media outlet, Square is working with PayPal and providers of near field communication (NFC) for this mobile service.
For each transaction performed by this device, Square receives from merchants 2.75 percent of the amount paid.
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