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Mobile payments company Square, founded by Twitter's CEO Jack Dorsey, has launched in the UK and is eyeing a Europe-wide expansion. 。
The platform, which makes it easier for small and medium-sized businesses to take card payments, will sell a card reader that connects to a smartphone or tablet, thus allowing chip and pin or contactless transactions. 。
SEE ALSO:How Microsoft helped British authorities after the London attack 。Britain, which is the fifth country where Square is available, is a good fit for the company as data from 。 Britain, which is the fifth country where Square is available, is a good fit for the company as data from 。Barclaycard 。 and 。 FSB 。 / 。BIS 。
show that 70 percent of UK shoppers prefer to pay by card. 。
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“We look forward to working alongside the millions of entrepreneurs and thriving small and medium-sized businesses across the UK, especially those who do not yet take card payments.”
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It is estimated that half of the UK’s 5.4 million small businesses don't yet take card payments. 。
Square started to roll out the service in the UK earlier this year, when it started to accept payment in pounds. It also created the SquareUK Twitter account 。
The company charges £39 ($49) for its card reader and a 1.75 pence fee for in-person transactions and 2.5pc for those made online or over the phone. 。
It allows merchants to check real-time sales data, invoicing and digital receipts. 。
It allows merchants to check real-time sales data, invoicing and digital receipts. 。