Square – Mobile Credit Card Payments Without Limits


What Is Square?

 

Square is an amazing application for the iPhone, iPad and Android that allows users to accept payments anywhere directly from their smartphones. This application comes bundled with a small magnetic strip reader for swiping credit cards that you plug directly into your device’s 3.5mm headphone jack. After downloading the app and signing up online you can get your own card reader sent to you for FREE! Square works anywhere a cell phone signal is present, and can even work without the card reader if you don’t always have it on you.

 

 

While everything about Square is amazing, and nearly all of it is free, there are a few expenses you should be aware of before you join the party. Every time you swipe a card it costs 2.75% + $0.15 or 3.5% + $0.15 when you key-in the information without the card reader. While those fees may add up quickly on large purchases, we found this to be quite a modest price for such an amazing service. Compared to its competitors, Square is actually a much more affordable service.

 

 

How Can Your Business Use It?

 

In all honesty the business applications for this device are endless. In the near future I foresee Square beings used by everything from startups to street vendors, babysitters to bar tabs. Square is certainly every traveling salesman and small business owners dream. This great service can even help track sales with receipts. Not only does it keeps track of all your transactions in an online control panel, it provides the option to send the payee a receipt via email. Best of all, there are no limits to the amounts you can accept whether it be $1 or $10,000.

 

How To Get Your Own Square

 

Getting your own Square is about as simple as using it! To get started, head over to your smartphone’s mobile app market and download the Square app. Once you get everything set up, head over to SquareUp.com to create an account and request your own Square credit card reader which is sent to you for free! (Originally it seemed the wait for the Square device was quite long, but I got mine in under a week.) From there you can link your Square account to your bank account of choice and once approved you are ready to start charging! If you are concerned about safety, rest assured knowing Square meets and exceeds all industry standard security practices and compliance requirements

 

This amazing app is certainly one of the coolest things we have seen come out for mobile market recently. It is really catching on and soon to be changing the way business is conducted everywhere….and we really mean everywhere! Comment below and tell us where would you like to see Square being used? Check out Square and let us know what you think about their service, or if you already have one, what are your thoughts?

 

Image Source: Engadget, Best Techie

 

 

  • http://redtigertraining.com Chris Adams

    I definitely think being able to take payments on your iPhone is a very cool idea, and a 2.5% fee isn’t bad, considering Paypal for most people is 2.9% and if you go through your bank (merchant accounts) it gets even higher. The only thing I don’t know about: how accepting consumers will be. It’s one thing if a major chain like Apple is using iPhones to ring up purchases but when smaller companies are doing it then it might become unnerving for the consumer. How do they know the person isn’t just copying the data all down to their iPhone? And what precautions does Square take to keep the data secure and encrypted on the phone?

    • Avongugg

      The problem I see us that their Q&A states they can only transfer/pay you a limit of $1000 per week, this could be a problem if you take a $2000 payment and actually need all the money before the second week…

  • http://redtigertraining.com chris@redtigertraining.com

    I definitely think being able to take payments on your iPhone is a very cool idea, and a 2.5% fee isn’t bad, considering Paypal for most people is 2.9% and if you go through your bank (merchant accounts) it gets even higher. The only thing I don’t know about: how accepting consumers will be. It’s one thing if a major chain like Apple is using iPhones to ring up purchases but when smaller companies are doing it then it might become unnerving for the consumer. How do they know the person isn’t just copying the data all down to their iPhone? And what precautions does Square take to keep the data secure and encrypted on the phone?

    • avongugg@gmail.com

      The problem I see us that their Q&A states they can only transfer/pay you a limit of $1000 per week, this could be a problem if you take a $2000 payment and actually need all the money before the second week…

      • mark@aol.com

        That’s not all together true. If you swipe the credit cards, you can charge an unlimited amount of money. Now if you “key in” the card there is a $1,000 cap on what you can receive. The rest is held for 90 days. You can avoid this by simply swiping all your cards or limiting your “keyed in” transactions to $1,000 per week. Take my advice you should not be keying in more than $1,000 per week anyway. That’s a good way to end up with multiple disputes.

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