Square Stand turns your iPad into a cash register, on pre-order for $299

Square just announced a new product meant to replace traditional point-of-service systems: the aptly named Square Stand. The hardware turns an iPad (2 or 3; support for the Lightning connector is coming later this year) into an all-in-one POS with an integrated card reader that accepts cash, plastic and Square Wallet payments. Available for pre-order today, the stand will set business owners back a rather steep $299, but the sleek design has a decidedly smaller footprint than the cash registers of yore, and it offers merchants real-time analytics for tracking sales via the Square Register app. Of course, if you want the full retail setup, you'll still have to spring for Square's receipt printer, barcode scanner and cash drawer.

Though the Square Stand won't be available until July 8th, several merchants throughout the country, including Cafe Grumpy in New York City and Morelli's Ice Cream in Atlanta, will be operating the device starting tomorrow. And given Square's partnership with Starbucks, we wouldn't be surprised if the system soon shows up at the coffee chain as well.

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Square reinvents the register with Square Stand

The company that revolutionized mobile payments with Square Reader now turns an iPad into a complete point of sale system

SAN FRANCISCO – May 14, 2013 – Square, the company making commerce easy for everyone, today announced Square Stand, beautiful new hardware for brick and mortar businesses that turns an iPad into a complete point of sale. With local businesses increasingly tearing out their old point of sale systems to run Square Register, Square Stand gives merchants a remarkable new way to manage and grow their business, all for the price of a cash register.

"Local business owners take as a given that they need an ugly, slow, expensive, and complicated point of sale system cluttering their counter," said Jack Dorsey, co-founder and CEO of Square. "Square Stand is elegant, fast, affordable, and easy to use. Whether you're selling cupcakes, cardigans, or cappuccinos, running your business with Square has never been easier."

Ready to use in minutes, Square Stand works with Square Register, the free point of sale application, and gives merchants access to real-time analytics, robust reporting, and a delightful experience for their customers. Square Stand features an integrated card reader that keeps information secure from swipe to payment, and easily connects to the hardware accessories businesses need, including a receipt printer, kitchen printer, cash drawer, and barcode scanner. Merchants can lock their iPad in place and secure the stand to their countertop, making it easy to tilt and rotate the stand and complete orders quickly. Square Stand works with an iPad 2 or 3, with a version for iPads with Lightning connectors available later this year.

Square Stand costs $299 and is available for pre-order today at squareup.com/stand. Customers will also be able to purchase Square Stand in Best Buy stores and other select retailers starting the week of July 8.

Starting May 15, local merchants across the US will be running their business using Square Stand:

Bang Bang Pie Shop: one location in Chicago
Blue Bottle Coffee: 8 locations in the Bay Area and New York City
Cafe Grumpy: 4 locations in New York City
Cartel Coffee Labs: 5 locations in the greater Phoenix area
Crema Coffee House: one location in Denver
Federal Donuts: 2 locations in Philadelphia
Morelli's Ice Cream: 3 locations in Atlanta
Olive & Vine: one location in Houston
Pitango Gelato: 5 locations in Baltimore and Washington, D.C.
Red Chair Salon: one location in San Francisco
Salt & Straw: 2 locations in Portland
Schodorf's Luncheonette: one location in Los Angeles
7 Seas Brewery: one location in Seattle
Square is now processing over $15 billion in payments on an annualized basis, excluding Starbucks. The company's recent growth has been fueled by increased adoption by brick and mortar merchants, who are using Square as a full point of sale system. While Square usage continues to grow on smartphones, it is growing at a faster rate on iPads: iPad customers now represent nearly 50% of total payments processed by Square. The average payment volume processed by these customers is more than double the average volume processed by Square customers using smartphones.