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Square charges $99 for Square Stand and $59 for its chip-based Square Reader. [54] The Square app is freely downloadable from the Apple App Store and the Google Play Store. Square charges a fee of 2.6% plus $0.10 on every electronically scanned credit card transaction [ 55 ] or 3.50% plus $0.15 per manually-entered transaction.
As helpful as a Square Reader may be for purchases at trendy stores, you'll want to watch out -- in the right circumstances, they can also be used to steal your credit card info. Security ...
In October 2011, the company stated that it was processing about US$2 billion per year in payments through its "Square" card readers, charging 2.75 percent per swipe. [ 44 ] In 2012, Starbucks and Square announced a partnership that would allow Starbucks to use the Square payment technology to accept payments for coffee.
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In 2009, McKelvey co-founded Square with Jack Dorsey. [10] [11] [1] Professor Robert Morley made valuable early contributions to the hardware used by Square in 2009. [12] In 2011, the iconic card reader design was inducted into the Museum of Modern Art. [13] McKelvey served as Square's chairman until 2010.
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