Dorsey reveals new Square Stand point-of-sale device

Dorsey reveals new Square Stand point-of-sale deviceCo-founder of San Francisco payments start-up Square, Jack Dorsey has released a new iPad based point-of-sale device called Square Stand in order to expand into more restaurants and retailers.

The Square Stand is built of moulded white plastic material and rotates either to the customer or to the staff. The device, which can be attached to a checkout counter or a cash register box, runs Square's point-of-sale application called Square Register. Dorsey said that the new device will be aimed at high-volume brick-and-mortar stores.

The device comes with a credit card reader, USB ports, a bar code scanner, receipt printer and a cash register box. The company will directly compete with not only firms looking to build cash registers built around the iPad but also with more traditional cash registers manufacturers. The Square Stand will be launched in July for $300 on the Square website and in Best Buy stores.

The company has become popular with smaller merchants who have been using its credit card swiper, which can be attached to smartphones and iPads easily. The company is now aiming to expand its presence in the market by offering both hardware and software together.