Rouse Properties Works With Square To Offer Point-of-Sale Solution For Small Business Retail Tenants

Rouse Properties, Inc. (NYSE: RSE), a national owner and operator of regional enclosed malls, today announced it is working with payments innovator Square to bring a convenient cost-effective point-of-sale (POS) solution to its common area small business retailers. Rouse Properties recently launched a one month pilot program utilizing Square’s technology at the following three Bay Area mall locations and plans to roll out the service to its entire portfolio of 31 malls later this year:
  • NewPark Mall located in Newark, CA
  • Southland Mall located in Hayward, CA
  • West Valley Mall, located in Tracy, CA

Andrew Silberfein, president and chief executive officer of Rouse Properties, commented, “Working with Square is a prime example of our continuous efforts to align ourselves with innovative companies that offer value-added services to help enhance the shopping experience at our malls for both consumers and retailers. Square’s technology will help put money back in retailers’ pockets while providing shoppers with a quick and highly convenient payment experience. We are excited about this partnership and look forward to exploring additional strategic alliances.”

Square offers a free credit card reader for the iPhone, iPad, and Android devices, allowing anyone to accept credit cards anywhere, anytime. Participating retailers simply need to plug the credit card reader into their mobile device and swipe to quickly and seamlessly process a transaction. The convenience of Square’s technology translates into easy, more efficient sales for merchants and consumers.

Square introduced its free credit card reader in 2010. There are no monthly fees or minimums, setup costs or variable percentages. Over two million individuals and businesses are able to accept credit cards with Square.

About Rouse Properties, Inc.

Rouse is a publicly traded real estate investment trust headquartered in New York City and founded on a legacy of innovation and creativity. Among the country's largest publicly traded regional mall owners, the Company's geographically diverse portfolio spans the United States from coast to coast, and includes 31 malls in 19 states encompassing approximately 22 million square feet of space. For more information, visit www.rouseproperties.com.

Copyright Business Wire 2010

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