Square Launches 'Terminal' For Card and Mobile Payments
*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).
In late January, NFT company Candy Digital cashed in when a Shohei Ohtani Icon NFT sold for $100,000, breaking the six-figure sale price mark for MLB NFTs for the first time. Scott Lawin, CEO of Candy Digital, joins Cheddar News' Closing Bell, where he explains why his company is very excited about the future of digital collectibles and how the Ohtani NFT sale shows consumer confidence in the marketplace.
Sēkr, a mobile app that aims to improve and digitize the outdoor travel experience, announced this week that it raised a $2.25 million seed round. In the Sēkr app, users can get access to more than 50,000 campsites throughout the U.S. including the nation's largest database of free campsites. The company is saying it is on a mission to make every step of the planning experience for outdoor travel easier, safer, and more social. Breanne Acio, co-founder and CEO of Sēkr, and Jess Shisler, co-founder and COO, joined Cheddar News' Closing Bell to discuss.
Cheddar's Big Game Special gives you all the info you need heading into Sunday's event. Pro Football Hall of Famer Terrell Davis, Big Game MVP Hines Ward, and Big Game Champion Emmanuel Sanders dissect the action set to take place on the field, Olivia Harlan Dekker delivers her winning wagers, Tom Morton breaks down what we should expect from advertisers, Azia Celestino showcases the atmosphere from Los Angeles, and Baker Machado discusses what viewers should expect to see unfold during the halftime show.
As the Cincinnati Bengals and Los Angeles Rams prep to face each other in the Big Game at SoFi Stadium in LA, 55 percent of a record number of bettors are projected to drop money on the Rams. Casey Clark, the senior vice president of strategic communications for the American Gaming Association, joined Cheddar News to share some data and predictions based on the greater interest in gambling on Super Bowl LVI. "You know that means that people are migrating away from the predatory illegal market and corner bookie and moving their action into the legal marketplace," he said. "So really encouraging for consumer protections and for those of us who might want to have a little action on the game."
Facebook parent Meta and Grammy Award-winning singer Ciara have joined forces to help black female-owned small businesses. Selected businesses will receive marketing mentorship from Meta along with $100,000 to put into their brand. One such business, The Self Care Suite, is a platform that supports mental health, and founder Tara Pringle Jefferson, along with Irene Walker, Meta Elevate founder and program manager, joined Cheddar News to discuss the program. "Having this opportunity with Meta, with Ciara, really will allow us to focus on our virtual programming, to focus on our e-commerce shop, and, as we kind of adjust, to the new normal in 2022," said Pringle Jefferson.
Tesla has been under mounting regulatory scrutiny by the NHTSA, and has issued numerous recalls, including four within the past two weeks. While the company has issued recalls over the years, the number seems to be increasing in recent months as the company issues fixes for seat belt chimes, pedestrian alerts, its self-driving software, and more. What's behind this uptick in recalls — and how might this impact brand loyalty? Al Root, Senior Writer at Barron's, joins Closing Bell to discuss.
Under Armour released a successful Q4 earnings report amid supply chain issues. The apparel company said it invested in analytics to decipher what drives consumers to its brand. However, the company warned of potential supply problems going forward due to COVID.
Hyperice is a technology company that specializes in physical recovery for athletes, and it's now partnering with the NFL. Christian McCaffrey, Carolina Panthers running back and Hyperice athlete-investor, and Jim Huether, Hyperice CEO, joined Cheddar News to discuss the partnership. "It's definitely for both for performance and for recovery, as somebody who plays a brutal sport and have to go through some of the unfortunate realities of injury," McCaffery said of the products. "You're always fighting for that 0.1 percent difference between winning and losing and and the little things and every second matters."
