Many small businesses struggle with the desire to accept credit cards but the hassle factor or the costs make it seem impossible.
Square is an app tied to your iPhone or Droid (or iPad). When you sign up for the service, they’ll send you a credit card reader that fits into your smartphone. You can either take credit card charges via swiping the actual card or by manually entering the data into the touchpad of your phone.
10 minutes after downloading the app and filling out some information so they can get the funds into your bank account — you can be accepting credit cards. It really is that simple.
In terms of fees, you’ll pay 2.75% if you swipe the card and 3.5% if you enter the charges in manually.
No long term contracts, no up front fees, no waiting to be approved. The only downside to Square is that, unlike PayPal, they don’t give you the tools to automate accepting credit card payments via your website. But odds are — if you are making that many transactions — you need a more robust tool anyway.
This isn’t the solution for everyone. But especially if you are a service based business who doesn’t have a daily need to accept credit cards — but when you need to, you’d like to do it quickly, easily and affordably — Square just might be the ticket.