Square's latest reader is equipped for chips and Apple Pay

Small businesses have a new way to get paid

Square has added a new way for small businesses to get paid with their NFC-enabled card reader. Square's new gadget allows customers to get through checkout using mobile payments as well as credit and debit cards with built-in security chips.

The contactless reader, which allow the use of Apple Pay, Samsung Pay, and Android Pay, costs $45 (approximately £30/AU$62) and also includes the company's magstripe reader, which allows cards to be swiped as normal.

In addition to mobile payments, Square's wireless reader also features a slot that reads security chips, which have been recently implemented in credit and debit cards to reduce fraud.

"We built our new Square Reader so every business in the neighborhood could accept Apple Pay and chip cards," said Square on the company's webpage. "We believe everyone deserves faster, more secure transactions."

According to a report in Engadget, Square's reader has already begun seeing use in a large number of cities across the United States such as Atlanta, Chicago, Denver, Los Angeles, Nashville, Minneapolis, Santa Cruz, Seattle, Washington, D.C., and more.

Square's readers, commonly seen in small businesses and on-the-go vendors, allow for payments to be made in place of a conventional point-of-sale system. Entrepreneurs looking to reserve the NFC-enabled card reader can find more information from Square online.

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