Square Payments

 
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5 Reasons Why Should You Use Square?

You’ve likely heard about Square Payments. Should you use them or not for your small business? We think so and here’s why.

1. Square has features that are specific to your businesses such as restaurant, home repair, farmer market, service professionals and others
2. The pricing is simple and easy to understand.
3. You get money for your sales directly into your bank account.
4. It’s easy to get started.
5. You don’t need a merchant account. In other words, you just sign up for a Square account and you’re good to go.

Solutions Specific to Your Business

Square works for all types of merchants and comes with dedicated solutions for different types of businesses and industries. Choices include retail, food and beverage businesses, service providers (professional services, beauty professionals, transportation and home and repair), health and fitness, organizations and entertainment.
hot dog stand photoPhoto by Rusty Clark – On the Air M-F 8am-noon

No merchant account

As opposed to numerous credit card processors, Square doesn’t call for a merchant account, so you don’t have to worry about a credit check or a lengthy application procedure. This means virtually anyone can by using the service and you can open an account right away.

Uncomplicated pricing

Being aware of pricing is one of the most complicated aspects of accepting credit cards. Square accepts all significant credit cards– Visa, MasterCard, Discover and American Express– at a flat rate of 2.75 percent per swipe, or 3.5 percent plus 15 cents per transaction for manually keyed-in cards. A Square representative validated that these rates apply to all transactions, and that there are no monthly charges, setup fees or other, hidden charges associated with making use of Square.

Simple configuration and processing

Square’s equipment and app are also easy to use. Depending on the type of credit card reader you choose, Square’s equipment (more on this below) is a plug-and-play solution that doesn’t entail a challenging setup process. The Square app also comes with a clean and intuitive interface, which we found makes it very straightforward and doesn’t require any complex tech skills to use.

Rapid deposits

Square accounts are linked to your bank account, so you prevent any delays in transferring funds that commonly occur with merchant accounts. Square says deposits can be made to your bank account in one to two business days.

Features

One of the best things about Square is that it offers both advanced and simple ways to process credit cards on mobile devices, giving you a host of features and flexibility to cater to your needs. Whether you intend to use Square at a brick-and-mortar establishment, at trade shows and events, on the field or wherever your business goes, there’s a Square solution for you.

Ease of use

Small businesses that use Square rave about how easy it is to use. From setup to equipment and software, Square offers one of the quickest ways to accept credit cards on mobile devices.
To highlight, small business owners we talked to said bying using Square is as easy as plugging the reader into an iOS or Android device and opening the app to select purchases. Just swipe cards and have customers sign the device and the transaction is finished in seconds. This makes Square convenient for both businesses and customers, giving them a better experience and a fast way to complete purchases.

Square offers three types of credit card processing systems

Square Reader

The Square Reader is a small dongle that attaches to your iPhone or Android smartphone’s headset jack if you’re looking for a simple mobile credit card swiper. Just open the app, swipe the card and have customers enter their PIN or sign for the purchase right on the phone’s screen. The Square Reader is free and will be mailed out once you’ve opened an account.

Square NFC/EMV Reader

In partnership with Apple, this wireless, pocket-sized device lets you accept Apple Pay (and other contactless mobile payments) and EMV chip payments. It can be used in place of or with the Square Reader and uses the same app to process payments. The NFC/EMV reader is free for the first unit and costs $49 per additional reader.

Square Register

Looking for a more advanced solution? The Square Register app lets you use the Square Reader on an iPad or Android tablet for a complete POS system. In addition to processing credit cards on the go, Square Register also lets you accept cash payments and perform a bevy of other functions, such as:

Furthermore, because Square offers various types of solutions, you can start with the simplest method, then move on to a more advanced system with additional features (more on this below) as your business expands. This is the strategy some small business owners we talked to used, which allowed them to stay with one credit card processor throughout the life of their business.

  • Process transactions offline.
  • Send digital receipts and invoices.
  • Monitor inventory in real-time with the ability to set customized alerts.
  • View analytics and generate a wide range of reports.
  • Increase sales with customer relationship management (CRM) and email marketing tools.
  • Instantly set discounts, open tabs and indicate tips right on the screen.
  • Permit customers to place orders for pickup and set appointments.
  • Open tabs and automatically indicate tipping options on-screen.

Other benefits
In addition to processing credit cards on mobile devices, Square comes with additional benefits to help small merchants run and grow their businesses. These consist of a financing program and e-commerce capabilities:

Limitations

Although Square is one of the easiest and most feature-rich mobile credit card processors, it has one major drawback: customer service. It’s not that Square doesn’t provide customer support. The company offers a wide range of help resources, including twitter, phone and email support. There is also a searchable Support Center that hosts a collection of articles, videos, frequently asked questions and how-to guides that cover everything from the basics of using Square to specific features, hardware, banking concerns and more. The sales rep we spoke with added that there is a self-service web site where you can perform certain tasks by yourself, such as order equipment and manage banking problems.

What Square does not have in customer support, nevertheless, is its accessibility. While other mobile credit card processors have live support available 24/7, Square’s phone customer service team is only accessible Monday through Friday from 6 a.m. to 6 p.m. Pacific time. This means if you require help at night or on weekends, you won’t be able to reach a person when you need one.

Get a loan

The Square Capital program lets you borrow money when cash flow is tight or when you require a loan for new equipment, additional inventory or a new location. We asked a Square representative how this program works and we were told that the funds are paid back automatically from your credit card transactions. Payments are based on a fixed percentage of each transaction. This percentage is also flexible, meaning you can pay more when business is booming or less when sales aren’t so great.

Free online storefront

Start selling online with a complimentary mobile-ready online store. You’ll get a pre-built storefront, so you won’t require any Web design or coding skills to get started. The online store itself is free, then Square charges 2.75 percent per transaction, the same as in-person credit card sales.