Squareup, a Silicon Valley challenger in banking counts Bank of Queensland as a point of deeper engagement with the Australian banking scene.CEO of Squareup Jack Dorsey, this morning announced it is "teaming up with Bank of Queensland) for a first-of-a-kind partnership, the bank as reseller, not all that novel. From today, new BOQ small business customers signing up for business banking services will also receive a free Square Reader for contactless and chip, and fee-free processing for their first $1,000 of sales within six months and then pay fees of 1.9% per tap.Square's mobile point-of-sale technology "significantly reduces the cost and time it takes them to set up," said said Ben Pfisterer, Square's Australia Country Manager.BOQ General Manager for SME Banking, Greg Pink, also welcomed the unique partnership as an opportunity to offer its small business customers greater access to payment options when it comes to running their business. Up from very few.The bank are up against  the $19 cheapie of the Square product range from Officeworks. Bunnings used to sell Square readers but stopped.