Did you know that you can now run credit cards without a credit card machine?!
Square is a great company that’s leveling the playing field for small business owners. All you need is a smart phone, a Square account and a FREE card reader from Square. It’s really pretty simple.
A transaction goes like this:
- Plug in the card reader to your smart phone. (You can get the card reader for free by ordering it off their website www.squareup.com.)
- Enter in the description of purchase:
- Cost of item
- Text description
- Photo of product
- You can set your settings for taxes and tipping according to your state and/or county’s rules.
- You can enable a signature setting where customers can use their finger to sign for a purchase.
- Swipe the customer’s card or manually enter in their card information (the latter requires a small additional fee).
- Choose whether the customer would like a receipt text to their mobile device or emailed to them (new additional packages from Square allow you to print receipts as well).
- Track your transactions on your mobile device or computer. Additional packages from Square allow you to integrate transactions with your cash register too
It’s very easy to use but also allows you to customize it to your needs.
Square charges a flat 2.875% on each transaction. This rate is very competitive with the current market and I found it to be below some traditional credit card transaction rates. There are other companies out there that are similar to Square but on top of the flat 2.875% they charge a per transaction fee of $0.15 or so.
Are you using Square? Tell us about your experience by commenting below.