With just a tablet and a tiny square, you can run your own business. The business tool Square is incredibly useful for processing credit card transactions in a portable way by combining the square with the use of a tablet.
So, what is Square?
Square is a software used by businesses to process credit card transactions, and it is known by its small square-shaped magnetic swipe reader that can be attached to either a tablet or a smartphone. This allows you to turn your device into a point-of-sale rather than using a traditional cash register and computer interface.
Paying for Square varies dependent on how much you want to include in your software, but there is a large variety of options. You also pay for Square through each individual transaction swiped through the Square reader. Square charges 2.75 percent per each swipe, dip, or tap of a credit card purchase processed through the reader, and 3.5 percent plus 15 cents for any keyed-in transaction that occurs.
There are no monthly fees, and there are instant deposits available, with other deposits coming into your bank account after one to two business days of processing.
The Square Point of Sale software accepts credit and debit cards, checks, cash, and gift cards, can process credit cards even without internet connection, can provide digital or printed receipts, can charge invoices or monthly payments, and also reports on sales and inventory. Square does not charge for refunds, taxes, discounts, or tipping, and you can do this all on the Square Point of Sale app as well.
Square also provides a more complex software called Square for Retail, which includes all of the same features as the Point of Sale service, but with additional features as well. The Retail service lets you use a search-based point of sale, track multiple locations of inventory, manage and create customer profiles, and to issue employee timecards.
You can also add additional features such as E-commerce, which lets credit card transactions process through your website. You can also let customers book appointments, and you can create and send email marketing campaigns as well as starting up loyalty programs. These features do come at an additional fee, but you can select which ones best suit your needs.
Overall, Square provides a great alternative to a traditional cash register point of sale, as it is much more sleek, portable, and modern, and the software does provide plenty of options as an all-in-one service that can be customized to fit your needs and your pricing and budget range. The tiny Square reader itself is free, and you can also upgrade to a chip reader if you want one, which is 29 dollars. The service is definitely worth investing in for any starting business, as it provides anything you could need in terms of credit card processing and customer and employee communications.