Anyone Can Accept Apple Pay with Square's New Reader
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Beginning this fall, many more merchants will be able to accept Apple Pay, letting you tap your smartphone (or Apple Watch!) to check out everywhere from a neighborhood cafe to your weekly house cleaning service using Square's new contactless reader. As an added benefit, the new reader also has support for EMV chips, letting you pay securely using chip-equipped cards, such as The Platinum Card® from American Express, Barclaycard Arrival Plus World Elite Mastercard or Citi Prestige.
Square support will be particularly useful for travelers — anyone can sign up for a free reader, including individual taxi drivers, boutique hotels and airport kiosk merchants. Now, of course, while the reader itself is fee, merchants need to pay a transaction fee (typically a percentage of the charge) to Square, which then passes along a commission to the credit card issuers and banks. Still, with wide availability and the increased incentive you'll have to make a purchase just because it's so much fun to buy stuff with a watch, this will likely be a win for consumers and merchants alike.