If you're considering Square as your mobile payment processor, then you're in the right place. Our Square reviews will tell you everything you need to know before you bite the bullet and use this service.
Launched back in 2009, Square has undoubtedly grown over the last decade. Today, they arguably offer a payment processing solution with the most features on the market (that is, one that doesn't charge a monthly fee)!
Plus, their service doubles as a physical POS system, too- win-win! Let's dive into the specifics in a little more detail.
Who Are Square Payments?
If you're a small business owner searching for a new payment processing software, you want something that ticks all the following boxes:
- Easy to use
- A vast array of features
- An affordable price point (no square recurring payments).
We're pleased to say that Square online payments fulfill all the above- making them the solution you've been looking for.
Square is probably most famous for taking mobile card payments. It's safe to say this company revolutionized the field by simplifying the process of accepting credit card payments. So much so, virtually any entrepreneur can access this service. Initially, this is what made Square stand out from the crowd.
Square Payments Options
On the whole, Square offers entrepreneurs two ‘general' sets of tools. This is amazing because not all businesses boast the same needs. Both of these options enable users to accept mobile credit card payments- it just depends on the additional features your business may require.
1. The Square Point of Sale
This permits you to process credit cards, track sales, and manage your business via Square's Point of Sale app- which is free by the way!
You'll also be pleased to hear that in addition to cards, you can also accept all the following forms of payment from your customers:
- Gift cards
The perks don't stop there; users can:
- Swipe cards without an internet connection- which is super handy if you're out and about!
- Create either digital and/or printed receipts for customers
- Make invoices and set recurring payments. By this we mean, you can use Square's invoicing tools to send one-off, frequent, or installment-style invoices. They also provide an array of templates to help you customize your invoices. For example, you can insert your business info, attach files, upload images, etc. Then go ahead and save these templates if you think you'll want them again in the future.
- Access and use sales reports to track your progress.
- Inventory management- this is a godsend!
- Last but not least, this software helps you handle your refunds, taxes, tips, and discounts you've applied to your stock.
You should know, you can either use Square’s official point of sale apps or integrate their software with another POS system. However, you can't use Vend, TouchBistro, or Lavu alongside Square.
While we're on the subject, let's discuss Square's apps in a little more detail. Square boasts four points of sale apps. The first one is free and is underwhelmingly labeled as ‘Point of Sale app.' In addition to this, there's the ‘Square Appointments' app. This is another POS app, but it features appointment scheduling tools. Then there's also Square for Retail (more on this in a sec) and Square for Restaurants- the latter function is pretty self-explanatory!
2. Square for Retail
If you're running a more extensive business, then Square for Retail might be the better option for you. Not only can you enjoy all the free Square Point of Sale features, but you'll also have access to the following tools:
- The ability to sell faster
- Tools to help you handle, track, modify and transfer your inventory to numerous locations.
- The option of managing all your vendors from one place.
- When your stock starts to run low, you'll be notified so you can make a new order.
- You can craft customer profiles. This is amazing for keeping your consumer's cards on file in a way that's both secure and safe. The process is entirely PCI compliant, and means regular buyers can pay for your services without even getting their cards out- how awesome is that?
- You can also set up and utilize employee timecards.
Square Payments Reviews: The Advantages of Using Square Payments
One of the best things about Square Payments is that they accept all major credit cards from almost anywhere in the world. All you have to do is register an account with them, and they'll send you a complimentary card reader.
You can take both chip cards and NFC payments for either contactless or traditional chip and pin transactions. Best of all, you can access your earnings as soon as the next business day (or at most, two business days after the payments were made).
However, if you need to access your funds quicker, you can request an instant deposit for a total of 1% of the transfer amount.
As we've already hinted at, you can also enjoy full PCI compliance. More than ever before, the need to handle peoples sensitive data with the utmost care and attention is of paramount importance. Therefore, having a payment system that's PCI compliant is worth its weight in gold.
You'll also enjoy credit card chargeback protection for up to $250 and assistance if you suffer from a payment dispute.
For a lot of business owners, reliable customer support is essential. So, you'll be pleased to hear that Square offers assistance over the phone (with a live person!).
Alternatively, you can also contact their customer service team via email or Twitter, Or, some users prefer to peruse through the resources published on their support center. Either way, you're bound to get your questions answered!
Most importantly, users tend to love the fact Square doesn't charge on a per-transaction basis. (i.e., every time a card's swiped). This means businesses selling low-priced goods can save a ton of money! You also don't have to pay extra for:
- A virtual terminal,
- Recurring billing,
- A customer database,
- A PCI compliant card vault to store card numbers,
Square payments Reviews: The Disadvantages of Square Payments
Like any other digital marketing software, Square suffers from a few drawbacks.
Namely, if you work in a higher risk industry (for example credit counseling, credit repair, credit protection, identity theft protection, direct marketing, subscription offers, infomercial sales, etc.), then Square isn't the payment processor for you.
Unfortunately, in addition to all their positive features, there are a fair few complaints against Square littered across the web. However, it's worth noting; Square has an A+ rating with the Better Business Beaurea. So, keep any negative Square reviews into perspective.
As you start analyzing the poorer testimonials, there are a few recurring themes. Namely that Square ‘scammed' them. Many of these complaints have nothing to do with Square at all!
However, the following issues Square are responsible for, and you should be aware of:
- Account stability and holds on funding: Before we delve into this, it's worth saying in some cases, the inconvenience caused here can be a blessing in disguise! Square has a pretty strict fraud prevention scheme which results in freezing funds if they think your account's in jeopardy. This often puts small businesses in a tricky position where they can’t access the cash they need to stay afloat.
- Lack of communication: Square doesn't adequately explain the complications that sometimes arise with third-party payment processing. If your account's frozen, you can usually get it back up and running by proving who you are. However, if you don't satisfy their requirements, they'll indefinitely terminate your account- not cool!
- Lack of advanced features: Some entrepreneurs want to see more complex features that rival other point of sale systems — namely, advanced reporting and store credit. However, when you consider there isn't a monthly fee involved, the lack of more sophisticated tools is to be expected.
What's the Square Payment Fee?
You'll be charged the same fee for all principal credit card payments (Mastercard, Discover, and American Express), which is great if you value predictability.
Alternatively, you can reach out and ask Square about their custom volume rates. If you're processing more than $250,000 via credit and debit cards, and your average sale is over $15, Square reviews your scenario and try and offer you a custom rate- how awesome is that?!
Here's a Quick Breakdown of All the Rates:
- Square Point of Sale: You'll need a square reader and stand to make the most of this system. You'll be charged 2.75% every time you tap, insert or swipe a card.
- Square Register: You'll be charged 2.5% and 10¢ per tap, insert, or swipe of a credit card.
- Square for Restaurants: Like Square point of sale you'll need a Square stand and reader. However, you'll be charged 2.6% and 10¢ for every credit card payment.
- Square for Retail: Again, you'll need both a stand and a reader. Similarly to Square Register, you'll be charged 2.5% and 10¢ for every card transaction.
- Keyed in card payments: Out of all these options, this is the most expensive coming in at 3.5% and 15¢.
Other Things to Note
In addition to everything else we've covered, Square eCommerce Processing is another favorite tool. This works wonders for complementing the free online they offer users. This is amazing if you haven't already launched your digital store.
Plus, you can also integrate Square with numerous shopping cart providers. Alternatively, you can utilize Square’s API to craft something that suits your specific needs.
Also, if you’re happy to pay a little extra, you can enjoy a very reasonably priced gift card solution, a booking system, a customizable loyalty program, and a sleek-looking card register (complete with customer-facing display)!
Square Payments Reviews: Who Should Use Square Payments?
This software's ideal if you're a smaller merchant based in the U.S, Canada, Japan, Australia, or the UK. Yes, Square's reputation may be bad for withholding merchant funds. However, over the last few years, they've drastically improved-which is one of the many reasons why they remain a crucial player in the payment processing industry.
If you're a brand new startup, and only process card payments scarcely, Square's a fantastic tool for you.
Have you got any experience using Square? If so, please let us know how you found them in the comments box below. We love hearing from our readers. Speak soon!