If you’re a small businessperson who is interested in buying Square’s Apple Pay-compatible credit card reader, but hated the thought of paying $49 up front, you might be pleased to know Square is now making it available via a $1 per week installment plan.
The cost of the reader is payable via 60 weekly payments of $1 per week. That’s an $11 premium over the usual $49 cost of the reader, but it lets you pay it off over a little over a year’s time.
… Square revealed that about 20 percent of “micro businesses” take out loans for operational expenses, such as the tools needed to run the day-to-day business. The new payment plan is intended to reach those small-business owners who may be apprehensive about adopting new technology due to upfront costs.
The reader is not only compatible with Apple’s contactless payments system, it also accepts other forms of NFC payments, and supports EMV chip cards. It includes a built-in battery, and connects wirelessly to iOS devices running the Square point-of-sale app to complete transactions.
It should be noted that businesses who use a Square reader for transactions will pay the company 2.75 percent of the amount of each completed charge card transaction.
For more information about the Square contactless card reader, or to purchase one for $49 up front, or $1 per week for 60 weeks, visit the Square website.