SOURCE: Square

Square

May 14, 2013 11:30 ET

Square Reinvents the Register With Square Stand

The Company That Revolutionized Mobile Payments With Square Reader Now Turns an iPad Into a Complete Point of Sale System

SAN FRANCISCO, CA--(Marketwired - May 14, 2013) - Square, the company making commerce easy for everyone, today announced Square Stand, beautiful new hardware for brick and mortar businesses that turns an iPad into a complete point of sale. With local businesses increasingly tearing out their old point of sale systems to run Square Register, Square Stand gives merchants a remarkable new way to manage and grow their business, all for the price of a cash register.

"Local business owners take as a given that they need an ugly, slow, expensive, and complicated point of sale system cluttering their counter," said Jack Dorsey, co-founder and CEO of Square. "Square Stand is elegant, fast, affordable, and easy to use. Whether you're selling cupcakes, cardigans, or cappuccinos, running your business with Square has never been easier."

Ready to use in minutes, Square Stand works with Square Register, the free point of sale application, and gives merchants access to real-time analytics, robust reporting, and a delightful experience for their customers. Square Stand features an integrated card reader that keeps information secure from swipe to payment, and easily connects to the hardware accessories businesses need, including a receipt printer, kitchen printer, cash drawer, and barcode scanner. Merchants can lock their iPad in place and secure the stand to their countertop, making it easy to tilt and rotate the stand and complete orders quickly. Square Stand works with an iPad 2 or 3, with a version for iPads with Lightning connectors available later this year.

Square Stand costs $299 and is available for pre-order today at squareup.com/stand. Customers will also be able to purchase Square Stand in Best Buy stores and other select retailers starting the week of July 8.

Starting May 15, local merchants across the US will be running their business using Square Stand:

  • Bang Bang Pie Shop: one location in Chicago
  • Blue Bottle Coffee: 8 locations in the Bay Area and New York City
  • Cafe Grumpy: 4 locations in New York City
  • Cartel Coffee Labs: 5 locations in the greater Phoenix area
  • Crema Coffee House: one location in Denver
  • Federal Donuts: 2 locations in Philadelphia
  • Morelli's Ice Cream: 3 locations in Atlanta
  • Olive & Vine: one location in Houston
  • Pitango Gelato: 5 locations in Baltimore and Washington, D.C.
  • Red Chair Salon: one location in San Francisco
  • Salt & Straw: 2 locations in Portland
  • Schodorf's Luncheonette: one location in Los Angeles
  • 7 Seas Brewery: one location in Seattle

Square is now processing over $15 billion in payments on an annualized basis, excluding Starbucks. The company's recent growth has been fueled by increased adoption by brick and mortar merchants, who are using Square as a full point of sale system. While Square usage continues to grow on smartphones, it is growing at a faster rate on iPads: iPad customers now represent nearly 50% of total payments processed by Square. The average payment volume processed by these customers is more than double the average volume processed by Square customers using smartphones.

About Square, Inc.
Square is making commerce easy for everyone. Starting with a free credit card reader for the iPhone, iPad, and Android devices, Square Reader allows anyone to accept credit cards anywhere, anytime, for a low transaction rate of 2.75 percent per swipe, with no hidden fees. Square Register serves as a full point of sale system for businesses to accept payments, manage items, and share menu and location information. Square Wallet, available in the US, is the most seamless way to pay, enabling individuals to pay at their favorite local businesses, discover new ones nearby, explore menu listings, and store receipts. Founded in 2009, and headquartered in San Francisco, Square is currently available in the U.S. and Canada. More information is available at squareup.com.