Shopify said the card reader will work with iOS and Android operating systems and support Visa (V.N), MasterCard (MA.N) and American Express (AXP.N) cards, among others. Shopify's reader will be free to all Shopify merchants without a current Shopify point-of-sale solution (the company also has a sales terminal with full tap, swipe, and chip payment compatibility that does support Apple Pay). For everyone else, the new reader will cost $29, and will process payments at 2.4 percent per transaction. "Small businesses don't want to have multiple services".
"Shopify is already known as an industry leading e-commerce provider, and with our new chip and swipe point-of- sale hardware, we are demonstrating our deep investment in the retail world", said Craig Miller, chief product officer at Shopify. "Now any of our merchants can use Shopify to power every aspect of their business, at every interaction".
Shopify's card reader will be available online on the company's website. For each swipe, Shopify charges the merchant 2.4% of the purchase price compared with the 2.75% charged by Square. "You don't need to have two systems", he said.
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