Square Stand Users ‘Covered’ For EMV MigrationBy: Chris Crum - August 20, 2014
Last month, Square announced plans to release a new Square Reader for chip cards, an EMV solution aimed at combating card fraud and protecting payment data. The company said it is preparing small businesses for the EMV migration and “industry shift” to chip-enabled credit cards.
On Wednesday, Square told Square Stand users it has them covered for the shift as well. In a blog post, Square said:
We’ve built Square Stand to easily connect to the accessories you need to run your business. Not only is Square Stand and its accompanying app a complete register service, it also integrates with your receipt printer, cash drawer, and bar code scanner. Just plug the hardware you want into the Square Stand USB hub, and voila, you’ve got your counter set up.
It will be just as easy to get your Square Stand ready for next year’s nationwide switch to chip cards (also known as EMV cards). Soon, we’ll offer a chip card–enabled reader that you can plug right into your current stand. The peripheral will be compliant with the new regulations, affordable, and very easy to set up. You can keep processing magnetic-stripe cards on your stand, but this add-on will allow you to take any type of payment from your customers. (Learn more about the nationwide transition to EMV here).
Earlier this week, Square announced the major expansion of its Square Capital program thanks to investment from Victory Park Capital. Square says it will be able to extend hundreds of millions of dollars to independent businesses.
Image via Square