Square now lets you lease its contactless and chip reader for $1 per week

Square has made it a bit easier for businesses to afford its new contactless and chip reader with a lease price of just $1 per week. The intention is to reduce the financial strain entrepreneurs face and allow them to use the latest commerce-based technology right now.

Launched in November, Square’s latest card reader not only puts businesses in compliance with the latest financial regulations by switching from antiquated technology to more EMV and NFC systems, but it also provides near-field communication capabilities, meaning that they can now accept Apple Pay, Android Pay, and other similar methods.

[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":1965547,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,commerce,","session":"A"}']

Although normally priced at $49 in retail stores and online, Square is giving businesses access to the card reader for just $1 per week for 60 weeks, which will give the company an extra $11 when it’s all said and done. The company hasn’t commented about the discrepancy, but perhaps it might be attributed to some overhead costs it has.

This leasing program is only available for the new contactless and cheap reader, so if you have an older card reader from Square, you’re out of luck.