Need to give your small business a boost? Why not try Square? You might not know what Square is, but know this: Square will assist you to attract potential customers to your business by making it easier for these customers to purchase your goods and services. Square is a small, rather stylish, credit-card processor — square-shaped, obviously — that enables merchants to close credit transactions by using their own iPads, iPhones or Android devices. The unit provides you with the ability to do credit-card purchases without needing to invest in a more complicated system. But Square does have a cost: You’ll have to pay a bit with every transaction that you close through the service. Is the cost worth the expense? That’s something you need to decide.
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 merely swipe the card through the reader. Or, you can even manually enter the credit-card number . The app that powers this, Square Register, is free. You can download it from the App Store or from the Google Play shop. Once you do, you’re set to start accepting credit-card payments.
The Biggest Positive of Square
Square must be doing something right. A recent story by USA Today reported that Square now boasts over 800,000 customers, a remarkable total for a company that’s still quite young. The reason behind this growth? Entrepreneur Magazine, in a recent story, pointed to the simplicity of the system. There’s little learning curve for business owners. Even the least tech-savvy users will have the Square system up and running in no time. Square also gives businesses the power to make life easier for customers, a definite benefit. Owners will not have to tell plastic-wielding consumers that they don’t accept credit cards.
The Downside to Square
There are fees, though. Each time customers swipe their credit cards through your Square Reader, you will have to pay 2.75 percent for the transaction cost. If you need to manually enter your customer’s credit-card number, you’ll have to pay Square, Inc. 3.5 percent of the transaction. Entrepreneur Magazine in a recent review of the system also said that human customer support is shaky at best . Still, despite having these cons, it’s tough to deny that Square has the potential to dramatically improve the efficiency of small businesses.