Square is the original no monthly fee, no equipment cost swipe-based smartphone processing system. As well as being the OG, Square is without a doubt the processing system with the most features, that doesn’t require a monthly fee. The only competitor near to this would be an advanced iPad POS, which would cost at least $60 a month plus processing rates.
Perhaps Square’s biggest draw is the flat rate processing fee of 2.75% for every swiped and online transaction. There is no monthly fee, no monthly minimum, and the rate is the same no matter how big or small the transaction is. Square also provides your business with a sleek and stylish online store that syncs with your in- app inventory and inventory counts. Along with these features comes an e-invoicing solution, online ordering selection, basic customer management, and advanced analytics.
All of these features are great and very useful, especially at such a low cost, I do have to tell of some of the drawbacks of Square. The drawbacks of the product exist in the form of account instability and no so great customer support. Square customers have complained about there accounts terminated and funds being withheld for up to 180 days, and when the customer tries to get customer support for these and other problems it is sometimes not up to par. But, with this bad news there is good news! Square has show signs of become considerably better with these problems and they are working to eliminate these completely. While there is a small level of risk with using the product, Square offers a great list of features and is easy to use.
I love when businesses have Square. No one carries cash anymore, so it is essential for businesses to have card swiping capabilities. I never knew there were drawbacks to using square, I hope they get these fixed and the company can continue to flourish!
My RA has square and I love it! It’s extremely convenient when our hall get’s pizza, or when someone else has him make a trip to the store and has to pay him back. That being said, I’m interested in seeing how long their dominance can last with apps that can transfer money without credit cards extremely easy. Great post!
My mother is a potter and shares her work at many different galleries and shows. I have no real experience with the product, however, her pottery sales raised 400% after purchasing one.
First off, I love the title! Square is such a cool resource and you were extremely clear about how we could use it, right off the bat. I love how specific you were, even giving us the exact transaction fee. I also thought it was a great idea to add in the potential drawbacks of it at the end. When you talked about customer complaints, it showed that you had really done your research on Square. I appreciated the other viewpoint a lot. Awesome article! Very clear and well-written.
I joined FBLA in high school and we used it in the school store. I was a school store manager and always found it very helpful! She had us all order a square to hopefully use one day ourselves. As I have an iPhone and now have virtual wallet, I sometimes wonder how long technology like this will still be useful.
When I see someone with the Square I think to myself, “Man, that is one OG businessperson.” I think it’s great that Square users don’t have to worry about any of the monthly fees or minimums for the product. With the low-stress and high functionality of this product (since less and less people are carrying cash these days), businesses anywhere and everywhere can now enjoy being OG.
Square is amazing! For the past few years my friend’s girl scout troop has used square while selling cookies on college campuses. It is so convenient for people to be able to swipe their card instead of having to dig out their money, especially because most college students don’t carry money. I love square!
One of my friends back home has been using square to operate a meal delivery service to students at his highschool. It makes it way easier for him and his customer since he doesn’t have to worry about change.