As per the press release information, Stripe Reader S700 enables businesses to accept payments and leverage pre-built elements for customer details collection, such as signatures and email addresses, or to run custom apps directly on the device.
The smart reader is part of Stripe Terminal, a set of developer interfaces, pre-certified card readers, and logistics management tools. The launch of Stripe Reader S700 aims to mark the company’s commitment to in-person payments and follows that of Stripe Reader M2 in 2021, the 2022 acquisition of BBPOS for manufacturing, and the launch of Tap to Pay on iPhone in 2022 and Tap to Pay on Android in 2023.
A handheld or countertop device with features like a high-definition screen and long battery life, Stripe Reader S700 can support diverse use cases, including:
Restaurants can leverage it to accept tableside orders, payments, and tips.
Movie theatres can leverage it to sell tickets at the box office or to those waiting in line at the entrance.
Concert promoters can sell merchandise wherever the show is located.
Fitness studios can leverage it to provide waivers, accept payments for single classes, or sign-up customers for memberships.
Kate Brenna, head of product for Terminal at Stripe advised that as Stripe Terminal users are always creating new commerce experiences, they require a flexible, all-in-one device that can keep up and works with their existing integration. Per their statement, Stripe Reader S700 is a dynamic, customisable point-of-sale device that suits businesses looking to create ‘unique’ in-person checkout flows.
Going further than traditional payment hardware, Stripe Reader S700 offers on-reader customisations for different business needs, with organisations being enabled to brand their splash screen and run custom apps to take orders, provide loyalty programmes, and collect customer information, amongst others. The solution functions on the same integration as all other Terminal devices, which means businesses are enabled to leverage it right away.
The announcement also highlights research findings that showcase 64% of shoppers worldwide have a preference towards brands with both an online and in-store presence. Combined with Stripe Reader S700, the company’s payments platform helps businesses create a unified system that analyses data in-store and online alike to keep pace with shifting customer preferences.
Exemplifying this, the press release details that Stripe’s online checkout can capture a customer’s preferred payment method together with their loyalty programme and send the information to the physical store, where it can be accessed on Stripe Reader S700 when the customer wants to make a purchase. What is more, orders placed on the Reader can sync with a business’s inventory management and a customer’s online order history.
Businesses are also enabled to order and manage fleets of Stripe Reader S700 devices across a multitude of locations within the Stripe Dashboard, or their own dashboards through an API, with them being able to view connectivity status, customise settings by location, deploy software updates to a fleet of readers automatically, and diagnose payment issues as they arise in either dashboard.
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