Square Introduces the Next Generation of Square Stand

Rhea-AI Summary

Square has launched the next generation of its Square Stand, a countertop device that transforms an iPad into a versatile POS system. This upgrade, available in all eight global markets, features integrated contactless payment technology and a streamlined checkout process. The design focuses on enhancing user experience, catering to both sellers and customers. Currently priced at $249, businesses can finance it with interest-free installments. Square Stand is compatible with various iPad models and offers a comprehensive solution for managing in-person and eCommerce sales.

Positive

• Launch of the new Square Stand enhances user experience with integrated payment technology.
• Square Stand simplifies business operations by combining POS software and hardware.
• High adoption rates of tap and chip payments suggest a strong market demand.

Negative

• None.

Reimagined hardware and software usher in new customer-centric commerce experience

TORONTO--(BUSINESS WIRE)-- Today, Square unveils the next generation of Square Stand, the company’s iconic countertop device that turns an iPad into a powerful, robust point of sale system that sellers can use to run their entire business. Launching concurrently in all of Square’s eight global markets, Square Stand features integrated contactless tap, chip and PIN payments technology, a sleek, professional design and a new checkout flow that provides businesses and their customers with a more intuitive, transparent and streamlined commerce experience.

Today, Square unveils the next generation of Square Stand, the company’s iconic countertop device that turns an iPad into a powerful, robust point of sale system that sellers can use to run their entire business. (Photo: Business Wire)

The reimagined Square Stand — designed in part by Square’s hardware engineers in Toronto — offers businesses the most affordable, comprehensive and easy-to-use device for conducting commerce. Square Stand combines Square’s point-of-sale software and hardware into one complete solution, enabling sellers to take in-person payments and manage eCommerce sales, deliveries and buy online, pick up in-store orders from a single place. Retaining the classic swivel design of its predecessor, the new Stand now integrates Square’s lightning-fast contactless and chip card readers into the display, helping sellers simplify their countertops and keep their lines moving while eliminating the need for additional payments hardware. In 2021, tap and chip and PIN payments made up 98% of global cashless hardware transactions on Square’s fully integrated payments devices,* — and 98% for transactions in Canada, specifically — meaning these new capabilities help sellers accept now-standard payments right out of the box.

The new Square Stand also transforms the buyer experience. New software for Square Stand creates a faster, more transparent checkout process that includes an order summary screen and illuminated payment icons on the face of the device to guide customer transactions and speed up purchases. These additions provide sellers and shoppers with the benefits of a customer display without the need for a second screen.

In Canada, L’Atelier, an optometry studio and salon based in Toronto; Pilot Coffee Roasters, a multi-location cafe and roastery in Toronto and Cidrerie et Vergers Pedneault, a cider house and orchard in Isle-aux-Coudres, Québec, have been testing the Square Stand for the past few months.

Halim Touidjine, owner of L’Atelier, appreciates the sleek design and intuitive customer interface of the new Square Stand. “The transaction experience is super smooth and I really love the design,” says Halim. “Customers instantly know that they can insert the card or tap — everything is right on the screen, it’s obvious. And it makes the payment process easy, just a part of the conversation,” he explains. Because L’Atelier has a hair salon within the optometry studio, Halim also appreciates the flexibility of the system to act as a POS hub for multiple businesses and revenue streams — tracking sales, appointments and customer communication.

“The way businesses and shoppers interact around the world has evolved exponentially in the time since we first launched our original Square Stand,” said Alyssa Henry, Head of Square. “The new Stand was built with the future of commerce in mind. Marrying elegant design with powerful software, Square Stand provides sellers of any size, from boutique retailers to multi-location restaurants, with a versatile command centre for their business. Square Stand offers sellers an integrated way to meet the purchasing preferences of today’s consumers.”

As Square’s innovative ecosystem of solutions has grown in Canada, so has Square Stand’s ability to serve sellers as a singular device to manage all of their operations. In addition to supporting all of Square’s vertical point-of-sale offerings, which include Square for Restaurants, Square for Retail and Square Appointments, sellers can use Square Stand for all their employee management needs, including time tracking, shift scheduling and tip management. Additional solutions like marketing, loyalty, inventory and omnichannel commerce tools are also readily available from the Square Stand.

Québec-based Cidrerie et Vergers Pedneault is a family-run business that produces farm-fresh ciders, juices and jams and operates a thriving online retail business, restaurant and coffee shop. General Manager Samuel Desgagnés says he relies on Square’s ecosystem of tools to manage the business’s multiple revenue streams, so the upgrade to the new Square Stand was a natural evolution. “I don’t know how it could be easier to set up,” he says, adding that the integrated card reader created more counter space for the business. Desgagnés says customers also approve of the new Square Stand. “The checkout [process] is so easy for our customers. Everything is right there for them to follow on the screen,” he explains.

Introduced in 2013, the original Square Stand was a transformational iPad point-of-sale system, giving merchants a way to take payments and access business insights and analytics, all from one place. Square Stand remains popular amongst sellers of all sizes and serves as a common entry point for new businesses joining the Square ecosystem.

Beginning today, the new Square Stand is available online starting at $249. Square Stand can also be financed over 12 interest-free installments of $21 per month and is compatible with the iPad (2019, 2020, 2021), iPad Air (2019) and iPad Pro 10.5”. Sellers pay one flat rate for in-person credit card payments and one for Interac debit payments, including contactless, chip and PIN transactions. Square has no hidden fees or long-term contracts and offers businesses free access to the Square POS app. For more information, please visit square.ca/hardware/stand.

* Percentage is representative of global cashless transactions on Square Register and Square Terminal for the calendar year 2021.

About Square

Square helps sellers more easily run and grow their businesses with its integrated ecosystem of commerce solutions. Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services, buy now, pay later functionality through Afterpay, staff management and payroll capabilities, and much more – all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their business and help them thrive in the economy. Square is part of Block, Inc. (NYSE: SQ), a global technology company with a focus on financial services. For more information, visit www.squareup.ca.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220411005105/en/

Media Contact:

press@squareup.com

Source: Block, Inc.

FAQ

What is the new Square Stand and its features?

The new Square Stand is an advanced POS system that integrates contactless payment technology, providing a streamlined checkout experience for both sellers and customers, available for $249.

When was the new Square Stand launched?

The new Square Stand was launched recently and is available in all of Square's eight global markets.

How much does the new Square Stand cost?

The new Square Stand is priced at $249, with financing options available.

What are the key improvements in the new Square Stand compared to the old model?

Key improvements include integrated contactless payment technology, a sleek design, and a more intuitive checkout process.

Is Square Stand compatible with all iPads?

The Square Stand is compatible with iPad (2019, 2020, 2021), iPad Air (2019), and iPad Pro 10.5”.