Square Credit Card Reader Now Available Through the Apple Store
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Posted April 17, 2011 at 2:25am by iClarified
Square has landed a deal to get its Credit Card Reader on the online Apple Store and in Apple retail stores starting this week, according to a TechCrunch report.
This is Square’s first large-scale in-store retail promotion and it landed a huge fish. Millions of consumers visit Apple’s retail outlets each day, and this will certainly translate into more sales and exposure for Square. The device will be only payments product featured in the store, and while display location may vary by store, we hear that Square will be included in the store area where main consumer-oriented accessories are displayed. Apple and Square will also be partnering to host educational seminars at the stores, where consumers can learn how to use the device.
The reader works with the iPod touch (4th Gen.), iPhone 4, and iPad. It costs $9.95 to purchase the reader. A flat rate of 2.75% is charged for any transaction you run through it.
Why would I burn gas to go to the Apple store to spend $10 on something I can get for free by just signing up via squareup? This makes absolutely no sense to me.
Getting placement in an Apple Store is a huge deal for Square. Retail exposure is HUGE for a product like this. They obviously can't just give away product in a retail environment or they'll be taken advantage of. $10 is a minimal price to anyone who's going to be doing credit card transactions and I'm sure Square had to make a nominal fee for Apple to be willing to sell it. Apple isn't going to volunteer to give away these things. The tech savvy will just order it online, others will just not be cheap and likely dole up the whopping $10 in store.