US-based global payments technology company, Square, has released its Square Reader in Australia.
According to the company, at $19, it is the lowest cost credit and debit card reader available in the local market that allows users to accept card payments securely on a smartphone or tablet device.
The reader plugs into the headphone jack of a user's iOS or Android smartphone or tablet and sellers can accept Visa, MasterCard or American Express credit or debit card payments at 1.9 per cent per transaction for all cards.
Square country manager for Australia, Ben Pfisterer, said this is the first time Australia is seeing a low, single rate for an eco-system that offers integrated card payments to a point of sale, analytics and reporting tools, inventory management, online invoices and digital receipts.
“Australia has always been an exciting market for Square to launch in with roughly 2 million SMBs, high smartphone and tablet adoption, and a strong entrepreneurial and start-up community,” he said.
The company said the device was designed with a variety of verticals in mind spanning cafes, bars, photographers and market sellers.
Square has chosen Australian transactional banking company, Cuscal as its partner and the reader will be available through major retailers, Bunnings, Apple and Officeworks.