New card reader for small business enters Australian market

American payment technology company, Square, is bringing its Square Reader to the Australian market for the first time.

According to Square, Square Reader is the smallest and most affordable credit and debit card reader available in the local market that lets you accept card payments quickly and securely on a smartphone or mobile device.

The reader plugs directly into your device’s headphone jack and within minutes can begin accepting Visa, MasterCard or American Express payments. You pay 1.9 per cent per transaction, no matter which card is processed, and funds are deposited quickly into any Australian bank account.

Square, which also created the free Square Register point-of-sale app, has been operating in Australia for about a year, and Square’s Australian country manager, Ben Pfisterer, says conditions are good for business.

“Australia has always been an exciting market for Square to launch in with roughly two million SMBs, high smartphone and tablet adoption, and a strong entrepreneurial and start up community,” Pfisterer explains.

“Local sellers have demonstrated an enthusiasm to adopt new and innovative payment solutions and Square Reader will build and complement this enthusiasm and extend it to more business owners around the country.

“We’re excited to remove all the complexity that comes with accepting card payments and offer Australian businesses the tools to be innovative and provide an enhanced customer experience.”

The device has been designed to meet the needs of a variety of small businesses from retail stores to market sellers to cafes and tradies, says Square CEO and co-founder, Jack Dorsey.

“With the launch of Square Reader in Australia, we’re empowering local sellers with the tools they need to start, run and grow their businesses,” he says.

“Our launch in Australia is an important step for our company and an exciting moment for a market so committed to innovation and an entrepreneurial small business community.”

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By Ruth Cooper