After a few weeks of anticipation I received my Square card reader in the mail yesterday. For a gadget freak this makes for a great day. What is Square? It’s a company, an app, and a hardware device all in one that sheds the traditional expenses and complications of acquiring and using a credit card terminal for the ease and simplicity of downloading a free app and accepting credit card payments via your iPhone.
No, this is not for everyone although I see immediate benefits for those that have the opportunity to sell their products and services but not the means to take credit card payments. Have a booth at at art fair? Collecting money from parents for kid’s soccer, baseball or football uniforms? Collecting donations? This is a super easy way to do so. Enter the amount to collect, add a note, optionally take a photo of the item, swipe the card and send an email receipt to the customer. Your money is deposited into the account of your choice weekly.
You do have to watch the expenses though. First of all, consider you may not have made that sale in the first place if you did not have the ability to collect via credit card. Then, realize 2.75% + 15 cents per transaction will be removed by Square before deposits are made. (If you collect more than $1,000 other conditions apply.)
I’m open for business and now accepting credit card payments with my Square device – anybody care to make a donation? Check it out at https://squareup.com/