Square is already well known for the way it brought credit card transactions into the hands of small businesses and sole traders. Now it has gone one step further and announced its latest creation which is a register app for the iPad. The new app aims to replace a traditional POS (point of sale) cash register with an iPad.
"I truly believe POS, as you know it today, is dead," says Megan Quinn, director of products at Square. "This will bring Square to an entirely new, small-market audience (bricks-and-mortar stores)." The new app extends Square far beyond just a payment-processing service. It replicates and, Square claims, enhances the features of a cash register for mom-and-pop storefronts. The app accepts cash and credit payments, lets merchants easily list menu items, and tracks the history of customers' purchases.
The app which is called Square Register will be offered for free and Square will make its money through its existing revenue stream of taking 2.75% of every credit card transaction made using its service. The app also contains a highly impressive analytics application which will allow any small business to assess sales data and then tailor all aspects of their business to maximise sales.
Source: USA Today