SAN FRANCISCO—The U.S. migration to EMV—at least among small businesses—got a boost recently when Square launched its latest card reader, which accepts chip cards.
The reader also works with Apple Pay and other NFC-enabled digital wallets.
Distribution of the $49 readers began with about 100 local small businesses across the United States, eWeek reported.
A free Square magnetic stripe reader is also included so merchants can still accept and swipe older credit cards.
The company started the distribution of the new readers to smaller businesses so they can gain the ability to accept such payments with the same ease as larger stores, according to Square.
Among the first to get the latest devices are small local merchants in Chicago, St. Louis, Austin, Texas; Boston; Denver; Los Angeles; Nashville; New Orleans; Miami; Minneapolis; Philadelphia; Phoenix; Sacramento; Santa Cruz; Calif.; Seattle; Tampa, Fla.; and Washington, D.C.
Merchants pay fees that start at 2.75% when a customer uses a credit card or mobile payment system. Payments to merchants are processed within two business days, and there are no monthly fees or long-term commitments, according to Square.