*By Bridgette Webb* Square wants to revamp those drab credit card readers. The San Francisco-based company on Thursday debuted the Square Terminal, a new all-in-one hardware device that enables businesses to accept all physical debit and credit cards and mobile payments through Apple ($AAPL) Pay, Google ($GOOGL) Pay, Samsung Pay, and NFC. "It's a great combination of our amazing payment service and combines it with hardware that's integrated all in one ー beautiful and exactly the technology all kinds of business need," Jesse Dorogusker, Square's hardware lead said in an interview on Cheddar. "It's all set up to replace all terminals and legacy terminals out there." The Terminal costs $399 and carries a 2.6 percent and 10 cent transaction fee for every payment. Square ($SQ) is offering a $300 credit as an incentive for businesses to switch over. The device broadens the scope of company's suite of products, which includes the counter-top Square Register ($999) aimed at larger retailers, the small Bluetooth card reader ($49) for mom-and-pop shops, and a free magnetic stripe reader. The launch also comes about a week after the company said long-time CFO Sarah Friar would step down to become the CEO of social network Nextdoor. Her departure shook investors in the company ー shares fell 20 percent in the two days after the news. But Dorogusker isn't worried. "Sarah is a tremendous leader, we are really excited for her," he said. "She's had a lifelong dream of being a CEO, and I know she will be a great executive at the helm. We have a lot of confidence in our ambitions, momentum, and the performance of this team." For full interview [click here](https://cheddar.com/videos/square-launches-new-device-for-credit-cards-and-mobile-payments).

Share:
More In Business
Is U.S. Restaurants’ Breakfast Boom Contributing to High Egg Prices?
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
Trump Administration Shutters Consumer Protection Agency
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
Load More