As a small business owner, you want to make it easy for your customers to pay for your goods and services. Square, a credit-card processing service created for iPhones, iPads and Android-powered devices will help you meet this goal. But Square, produced by Square, Inc., isn’t free. It will cost you when you swipe a customer’s credit card through the tiny card reader that attaches to your smart phone or tablet. The issue, then, is a large one: Are the benefits of Square really worth the extra price you’ll pay on transactions fueled by it?
How it works
The Square reader connects to the audio port on your smart phone or tablet. When a customer chooses to buy a product or service with a credit card, you only need to swipe the card through the reader. Or, manually enter the credit-card number . The app that powers this, Square Register, is free. You can get it from the App Store or from the Google Play shop. Once you do, you’re set to begin accepting credit-card payments.
The Biggest Positive of Square
Square is incredibly easy to use. This is why it’s ideal for overworked small business owners. There is no lengthy instruction book to pore through. There aren’t any complicated installations. This is why Square has grown to become so popular among business owners. A recent story in USA Today reported that more than 800,000 customers are making use of Square today. The system is also straightforward for consumers. With it, the smallest of business proprietors can accept credit-card transactions. You won’t have to send your customers to the corner ATM for cash.
The Downside to Square
Nothing is perfect, though, and Square is no exception. While the Square Reader and Square Register are free, using the service is not. Business owners will pay 2.75 of a transaction to Square, Inc. every single time they swipe a customer’s credit card. If business owners instead punch in the credit-card numbers of their customers manually, they’ll pay 3.5 percent of each transaction. Those costs will add up. A second disadvantage? In a review of Square, Entrepreneur Magazine stated that the human-provided customer service is less than stellar. Still, Square may be a net positive for your small business. In today’s economy, any advantage is crucial.
Posted on: 02.15.13