Twitter CEO Jack Dorsey is expanding his payments business Square and taking on Australia's big banks

Jack Dorsey. Photo: Justin Tallis/ AFP/ Getty Images
  • When he’s not running Twitter, Jack Dorsey is managing his payment service Square which aims to undercut the rest of the market by a significant margin.
  • As Square continues to expand in Australia, Dorsey is in Melbourne on Thursday to unveil the Square Terminal newly arrived in the country.
  • Promising to undercut the big Australian banks by not charging ongoing fees, the new payment terminal will begin showing up in cafes and small businesses soon.

Next time you go to pay for a coffee, you might be in for a surprise.

Payment provider Square has begun rolling out its new terminals in Australia, with its founder, Twitter CEO Jack Dorsey, in Melbourne to give it a boost.

Square, which arrived in Australia three years ago, is used by businesses to deal with all their transactions through one transfer point. Dorsey is now growing that local footprint with the introduction of Square Terminal to Australia.

“In 2016 we started helping the smallest Australian businesses accept card payments easily with our original Square card reader, and we didn’t stop there,” Dorsey said in a note announcing the launch.

“We’re growing with our sellers, introducing new hardware that is still easy to access and quick to set up, but is also designed specifically to give bigger and more complex businesses better options when it comes to choosing a payments platform.”

READ MORE: Square, the $30 billion payments company, is finally launching the futuristic cash register it’s dreamed of since day one

Squareup.comThe Square Terminals that are set to begin showing up in Australia.

Square sells itself as a better payment alternative that’s better looking and better functioning than its competitors. It sells itself as a one-off purchase from Officeworks or online for $439, unlike EFTPOS machines that typically charge businesses ongoing monthly fees.

“It’s a powerful device that incorporates elegant hardware with the Square payments service that businesses love—and it’s easy for them to buy and set up on their own terms,” head of hardware Jesse Dorogusker said.

That means no setup, service or account fees either — all of which are typically charged by the Australian banks for example.

If it lives up the hype and undercuts the big four, it seems destined to be coming to a cafe near you.

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