Boston, MA 05/15/2013 (wallstreetpr) – The San Francisco based payments startup, Square Inc had introduced a new stand which enables iPads to be used as point-of-sale systems. The Square Stand, which costs $299 is provided with credit card reader and can swivel back and forth. Such features of the hardware enhance its usage for customers to carry out their transactions across the counter.

Products of Square Inc

The payments startup, cofounded by Twitter Inc. Chairman Jack Dorsey had been competing with Intuit Inc. and EBay Inc. in an attempt to turnaround the way in which companies process in store transactions. “Business in a box” rolled out by Square Inc in February is provided with two credit card readers, cash drawer, iPad stand and an optional feature of receipt printer.

Square Inc made its first offer of stamp sized credit card reader in 2009, thereby enabling the merchants to complete their transactions on the go. This credit card reader was highly useful especially for small merchants including cab drivers and food trucks.

Square Inc receives a flat fee of 2.75 percent for each of the transaction through the reader or monthly fee of $275, along with free software. The card swiper thus introduced by Square Inc now has more than 3 million merchants across the world and their transactions generate about $12 billion payments to Square Inc annually.

The new Square Stand introduced by the company would prove to be highly comfortable and easy to use for merchants and customers for their transactions.