Square CEO Says Company Will Accept All Forms Of Payment, Even Apple Pay

While Walmart and other major retailers are deliberately holding off on accepting Apple Pay because they are developing a competing mobile payment system, there are plenty of small businesses who want to offer Apple Pay but don’t want to invest too much in the equipment required to accept it. The folks at Square, which turns your smartphone into a card reader, hope to remove that roadblock early next year when they start enabling clients to accept Apple Pay.

CNN Money reports that Square founder Jack Dorsey announced the move as a way to help businesses accept all forms of payment, even the newest kid on the block.

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

Before Square can begin accepting the payment option, it will have to rework its hardware. Square allows businesses to accept credit card payments on iPads and iPhones with the help of an attachable device, but isn’t comparable with Apple Pay just yet.

Square’s inclusion of Apple Pay comes after some retailers including Walmart and CVS have said they won’t accept the payment method. Instead they’ve chosen to stick with CurrentC, the retail industry’s own payment system.

Square will soon accept Apple Pay [CNN Money]

by Ashlee Kieler via Consumerist