Square competitor Shopkeep is offering new customers free NFC-based POS technology that accepts card payments and ApplePay.
The scanners also process the more secure EMV-chip credit cards that have gained traction in Europe and are now being rolled out across the US. They are worth $259 and are only available without charge to new sign-ups, which may anger loyal customers.
“We see ourselves as the IT departments for these growing merchants so we want them to have the latest technology,” Norm Merritt, ShopKeep’s co-CEO, told Re/code.
Shopkeep, which is based in New York, currently has around 11,000 customers paying $49 per month, per register. Its software, which runs on iPads, is used to manage inventory and customer information as well as processing payments.
While the free technology deal may be effective in attracting new customers, Square is also hotting up the competition. Last month it announced plans to release a $29 version of its POS device – albeit one that does not include an NFC scanner or PIN entry pad, but will allow US customers to validate card payments with their signature.
Whitepapers
Related reading
5 ways blockchain can change the cross-border payments landscape
Cross-border payments is a changing sector of the industry, driven by customers demanding little to no friction and encountering multiple steps, intermediaries ... read more
The SME technology revolution | video
The UK is home to 5.4m micro SMEs that have fewer than nine employees, according to the House of Commons library. They ... read more
JP Morgan blockchain network showcases banks’ DLT progress
JP Morgan’s expansion of its blockchain-based interbank payments project signals that major banks are stealing a march on disruptors and startups by ... read more
Security a priority for EU’s INATBA blockchain taskforce
The European Commission’s new blockchain initiative, the International Association for Trusted Blockchain Applications (INATBA), should focus on quashing extant security concerns around ... read more
