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Square says it will support Apple Pay

Square founder and Twitter co-founder, Jack Dorsey, told CNN that they will release a new Square registrar that supports Apple Pay. He said he doesn’t want to compete with Apple, and they will focus on their current projects they have expanded. The company recently helped Snapchat release Snap Cash.

“We’re not building a credit card,” Dorsey said. “We’re not building a payment device. We’re building a [cash] register, and this register accepts all these forms of payments.”

The current registrar don’t have NFC, and currently only support magnetic strip credit cards. Though Square started accepting pre-orders for a Chip-and-PIN enabled model earlier this month. If square stops preorders, or if they add NFC to these model business can start accepting Google Wallet or Apple PAy sometime in 2015.

Many have question if Sqaure could survive Apple’s entrance into the mobile payment and mobile wallet business. But Square could grow more if it adds a way to make mobile payments without NFC or a credit card. What is next for Square may not be with NFC or Snap Cash, but its trying different things to stay alive and relevant.

It the near future a small business near you may be able to accept Apple Pay or Google Wallet, while Walmart, CVS, and dozen other large business still refuse to accept Apple Pay. Tell us if you’ve used Apple Pay or Google Wallet and if you’ll use it more if a small business  supports Appel Pay or Google Wallet in the comments below!

Source :

CNN Money

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