Block, the payments company co-founded by Jack Dorsey (formerly known as Square), is now introducing a new iPad stand that comes with a built-in Near Field Communication (NFC) reader for US payments. The new Square Stand is only compatible with NFC or chip cards. For those who want to continue accepting payments with magstripe cards, they would need to order a free magstripe Square Reader, the company said. The iPad Square Stand by Blocks is intended for retail users who use iPads as point-of-sale terminals.
By integrating a credit card reader into the stand itself, the technology simplifies the process for merchants as they don’t need to attach an external card scanner. The Square Stand has a built-in guide LED to help customers check out. Block will also provide the point-of-sale software and payment integration that can simplify sellers’ lives. Customers can also get a full picture of the payment details and also choose how much tip to add to the bill.