Square launched Online Checkout platform for contactless payments

Wednesday 30 September 2020 13:05 CET | News

US-based financial solutions company Square has launched Square Online Checkout, aimed at making smartphones into card readers and POS systems.

After a set-up that takes a few minutes, the service lets users accept on-line payments via shareable links, buttons, and QR codes. Each item created is called a “checkout link,” and these can represent a product, a service, a donation, or a subscription/membership. The checkout links are primarily just a name and price, though you can add a photo in some cases. You can even allow users to create their own custom price, which is especially key for accepting donations.

The processing fees are 2.9% plus a USD .30 fee per transaction. While this is a slightly higher percentage than some of Square's more advanced offerings, there are no monthly fees and no special hardware or software are necessary.

The system is completely cashless and contactless. According to a study from Mastercard, about half of global users have exchanged their favorite credit card for contactless payment during the pandemic. And 74% of respondents intended to stay contactless post-pandemic.

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Keywords: Square, Square Online Checkout, POS system, mobile payments, credit card, contactless payments, online checkout, MasterCard, bank issuer, US, North America
Categories: Payments & Commerce
Countries: United States
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Payments & Commerce

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