Square Review

Square offers reliable credit card processing for both in store and online purchases. They accept all major credit cards and use a flat rate pricing for all transactions, so there is predictability and consistency with the amount that merchants will be charged per transaction. When merchants sign up, they will receive a free magstripe reader, which can be used on the go and takes all credit cards.

Square divides their services into small businesses, which is defined as $250,000 a year in transactions, and large businesses, which is over $250,000 a year. Larger businesses may have some discounts or custom rates, but the average sale per transaction has to meet a $15 minimum.

There are some great positives about Square that make it attractive for merchants. They do not charge monthly fees and there are no long-term contracts. However, Square isn’t a credit card processing company geared towards high volume and high risk industries. They offer chargeback protection of up to $250 a month and guarantee deposits in one to two business days.

Their pricing for credit card transactions are as follows:
Square POS: 2.75% per transaction (swipe, tap, chip)
Square Terminal: 2.6% + 0.10 per transaction (swipe, tap, chip)
Square Register: 2.5% + 0.10 per transaction (swipe, tap, chip)
Keyed-in or online: 3.5% + 0.15 per transaction

We at iDeal Comparison recommend their services for smaller merchants because of the ease of use and reliability, but because of the flat rate pricing merchants with greater volume of monthly transactions would be better suited with another company to get the best price per transaction possible.

Square offers several card reader and terminal options for merchants. The varying size, functionality and devices needed for them help fit the varying needs of the business owners they support. Merchants who travel or don’t have brick and mortar stores can use their free Square Reader for Magstripe, or they can invest in the Square Reader for Contactless and Chip. The Square Reader for Contactless and Chip connects to phones via Bluetooth and can accept chip or mobile pay. Merchants with Square terminals or registers can also use the reader and can add on the Dock for Square Reader to keep it charged and stable ($29). The Square Reader for Contactless and Chip comes with a backup magstripe reader in case merchants run into connectivity issues or runs out of batter. The magstripe reader needs a headphone jack, so keep this in mind if using iPhones without headphone jacks.

The Square Terminal is a compact machine that can take swipe, chip or mobile pay transactions, along with cash, gift cards or keyed-in payments. It’s a great option for merchants who already have a register and don’t want to dish out money for more, and is small enough for any sized countertop. Square Terminal uses WiFi and Ethernet internet for connectivity and can track purchase history and send receipts via email. It can also provide reports and data about the sales made and manage inventory, and can be mobile within a brick and mortar establishment. If the internet goes out, Square Terminal can still take swiped payments, and because 24/7 customer support is included, merchants can be sure to have any issues they have can be resolved at any time.

Square Stand uses an iPad to create an easy to use POS system. It comes with a Square Reader and Dock for Square Reader, and merchants can either purchase an iPad or use one they have already. The Square Stand swivels with ease and can support additional hardware such as a barcode scanner, receipt printer or cash drawer. Merchants can accept swipe, chip or mobile transactions, along with keyed-in, cash and giftcards. The Square Stand uses encryption for secure transactions and is compatible with all of Square’s software and POS systems.

Square Register is an all-in-one system for merchants who want to step up their register. The system comes with a large screen for merchants and a second screen that faces outward for customers. Because it includes everything, the display customers see supports swipe, chip and mobile payment options. When used with Square’s POS system merchants can handle all of their day-to-day transactions, sales data, inventory and other information from their Square Register. Their register makes it very simple to keep a business running smoothly, but only makes sense for merchants with a brick and mortar business. The Square Register comes with a 2-year warranty and 24/7 support.

Square offers a POS system that can be customized to fit the needs of the merchant. Their POS system is easy to use and can help merchants manage every aspect of their business. POS systems can maintain inventory levels, send invoices, keep track of purchase histories, and compare data and provide other varying reports. Square can customize the POS systems for industries including retail, restaurants, and others that require appointments for an additional $60/mo. The POS system is fully integrated with all of the offered hardware, making it simple to transition between different kinds of hardware if necessary.

Square offers many different online and e-Commerce solutions for its customers. Beyond a typical virtual terminal, Square helps its merchants create their own online store in partnership with Weebly. Square offers help with a website domain and even offers the first year free. Merchants can use the available tools for shipping, tracking online data, marketing and even create a mobile app for sales. Contact Square for more information regarding their e-Commerce solutions.