Anyone using "The Square" for Credit Card sales??

Myka · #1 03-09-2014, 07:07 PM

"The Square" is a card reader for credit cards that plugs into iPhone, Android, and iPad devices for point of sale transactions via an app. Is anyone using this product as a seller?

www.square.ca

I saw and used the product as a buyer at MACNA last fall. It's a pretty cool idea. The website says no monthly fees, no sign up fees, no activation fees, no inactivity fees, no cancellation fees, etc. They are only charging 2.5-3.75%, and they provide the device and app for free.

If used with an iPad, you can get a compatible stand and compatible printer for making receipts; even a cash drawer and bar code scanner. Cool.

So, the million dollar question...what are the CONS of the device??

Myka · #2 03-09-2014, 07:24 PM

In response to my own question...

PCMag has a great review for the product, but if you read user reviews there are a lot of complaints. The main complaint is from Square withholding funds for transactions over $2000. Another complaint is that there is no customer support phone number, just an email that apparently goes unanswered.

This isn't looking quite as good as it was an hour ago...

http://www.pcmag.com/article2/0,2817...p#disqus-start

I see there are some other devices...

PayPal Here
Intuit GoPayment (Apple devices only)

toytech · #3 03-09-2014, 07:56 PM

Im buying one of these things so I can go back to robbing people .Now we are a cashless society its been tough lately , it embarrassing to jump out at someone and demand all their money and they ask if you take credit or debit cuz that's all they have . But in all seriousness I would rather do cash or email bank transfer as that's free through my bank , I don't think it will take long for someone to crack the app and steal funds from transactions , I don't trust the security of someones personal phone .

Myka · #4 03-09-2014, 08:38 PM

Quote:

Originally Posted by toytech

I don't trust the security of someones personal phone .

This is something I was concerned about as well. I have bank and credit card apps on my phone though, so I guess I'm not that concerned.

According to reviews, I haven't come across any security issues.

BlueTang<3 · #5 03-09-2014, 11:02 PM

The business who installed my furnace used this, neat idea and worked well. Only thing I remember him saying monthly fee was high but I don't remember now.

MitchM · #6 03-09-2014, 11:42 PM

I looked into one of those units for our business (dental office), but the high interest charge was too much.
It depends on how much you're going to be putting through. It can really add up.
I was able to find credit card charges at 1.5% through Global Payments, I think. (we've since sold the business)
Shop around if you can.

mseepman · #7 03-10-2014, 02:38 AM

One of the local reef stores uses this as they are a home based business. Its also what they use at MACNA for the coral sellers there. Works like a hot damn but I understand they might charge slightly higher fees.

Myka · #8 03-10-2014, 02:48 AM

I thought 2.75% was a low rate...? Of the ones I've looked at there is no monthly fee. There aren't too many available in Canada yet, and of those ones many are only Apple compatible, not Android.

The Grizz · #9 03-10-2014, 03:19 AM

2.75% per swipe is actually pretty good. I have talked to some retailers that pay way more to use MC or Visa machines and there is a monthly fee on top of that as well. A lot of places will not accept Amex because there fee is HUGE!! Not to mention that any fee charged would be a right off for the service.

FishAreFriendsNotFood · #10 03-10-2014, 03:34 AM

Read their contract carefully! Not only are you giving square access to your bank account to deposit funds, but also to withdrawl.