Square Wants to Bring Apple Pay to Small Businesses

Square ReaderSquare Reader

Square wants to support Apple Pay, a move that would allow even small businesses to accept Apple's new payment solution. Calling using Apple Pay "a great experience," Square founder Jack Dorsey said his company is focused on allowing merchants to accept as many payment options as possible.

"We're not building a credit card. We're not building a payment device. We're building a [cash] register, and this register accepts all these forms of payments," Mr. Dorsey said in an interview with CNN.

Current Square hardware won't support Apple Pay. The nearly ubiquitous card reader shown above is set up to read magnetic stripes, and does not have the NFC hardware Apple supports with Apple Pay.

Square can, however, build new hardware that does support NFC, and Mr. Dorsey said he was committed to doing so. When it happens, Square will effectively turn any iPhone or iPad into an Apple Pay terminal.

Mr. Dorsey's interview from CNN: