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VeriFone (PAY) Lower as Square Debuts New POS System

February 20, 2013 10:07 AM EST Send to a Friend
VeriFone Systems (NYSE: PAY) and NCR Corp. (NYSE: NCR) shares are under a little pressure following a new announcement out of peer Square about a POS system.

The following is a release from Square:

Square, the company making commerce easy for everyone, now offers brick-and-mortar stores all the hardware to run a business in one convenient and affordable package. Square Register serves as the full point-of-sale system for businesses to accept payments, track sales, and share item and location information.

Neighborhood merchants are increasingly adopting Square Register for its simple interface, smart analytics, continuous updates, and low processing fees. With Business in a Box for Square Register, merchants can now simplify their countertop with an affordable and comprehensive package that includes two Square Readers, an iPad stand, a cash drawer, and an optional receipt printer. All work wirelessly with Square Register.

Historically, business owners were forced to piece together multiple hardware components from various manufacturers, manage complicated contracts and pricing structures, and pay for expensive software licensing and service plans. Now, they can be up and running with Square Register in minutes.

For more than a decade, Holly Pils of Boopa’s Bagel Deli has been baking for the Fort Worth, Texas community. From her printer to her cash drawer, she runs her business on Square.

“We’re a neighborhood business that has been in the community for more than 13 years and we need to make smart decisions so we can make great bagels for decades to come,” said Pils. “My customers and employees love Square and it could not have been simpler or quicker to set up. Square has saved us time and money. It is truly a blessing.”

Hardware packages start at $299 and are customizable according to customer needs. There are no commitments and free returns within 30 days.




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