Square Register for iOS expands payment recording, tracking
Square upgraded its Register point of sale application for Apple's (NASDAQ:AAPL) iOS, enabling merchants to record and track all varieties of payments.
Square Register, first launched in March 2012, operates in tandem with the Square Card Reader payment dongle, enabling mom-and-pop businesses to accept cash and credit transactions, customize inventory, integrate loyalty programs and issue receipts via iOS-based devices. With the new Square Register version 3.2, merchants can track payments made with checks and gift cards--in addition, iPad tablet users can now reconcile their cash drawer more efficiently by leveraging new management tools, and connect a Bluetooth printer to wirelessly print receipts.
More than 4 million North American businesses and individuals use Square services. The company now processes more than $15 billion in payments on an annualized basis, billing U.S. merchants 2.75 percent on all transactions.
Square has credited its growth to increased adoption by brick and mortar merchants using the startup's m-commerce platform as a full point of sale system. Square notes that iPad customers now represent nearly 50 percent of total payments processed across its platform--moreover, the average payments volume processed by tablet users is more than double the average volume of their smartphone counterparts.
Square capitalized on its tablet momentum with the May 2013 launch of Square Stand, an iPad-optimized product designed to complement Register. The Square Stand hardware features an integrated, secure card reader that connects to accessories like receipt printers, kitchen printers, cash drawers and barcode scanners, and is priced at $299.
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