April 20, 2017 / 4:38 PM / 2 years ago

Canada's Shopify launches new wireless card reader

The logo of Shopify hangs behind the Canadian flag after the company's IPO at the New York Stock Exchange May 21, 2015. Picture taken May 21, 2015. REUTERS/Lucas Jackson

(Reuters) - Canadian e-commerce software maker Shopify Inc (SHOP.TO) said on Thursday it had launched a new wireless card reader in the United States.

The rates charged will be about 2.4 percent per swipe, and the device will compete with the likes of Jack Dorsey-led Square Inc’s (SQ.N) card reader, which costs merchants at least 2.75 percent per swipe.

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.

New customers, and existing merchants not yet using the company’s point-of-sale systems can get the reader for free.

Merchants who own a Shopify point-of-sale system will have to pay $29 for the reader, the company said. Square, which also makes wireless card readers, sells it for $49.

Shopify’s card reader will be available online on the company’s website.

Reporting by Ahmed Farhatha in Bengaluru; Editing by Shounak Dasgupta

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