If you still have a traditional merchant account, and it works for you, keep using it. But, if you’re looking to make a change and to kick those merchant fees to the curb, give Square Register a try.
Here’s how it works:
1. Sign up for a free Square account and the Square card reader will be mailed to you.
2. Download the app for your iPhone, iPad, or Android phone and then link your bank account.
4. To use the reader, insert it in your phone’s headphone jack and follow the prompts from there.
(*This is a new feature. To figure out which pricing model is best for you, visit their FAQ page and see below for more info.)
You’ll probably like the ability to quickly and easily accept credit card payment without a merchant account and having funds deposited within one to two business days. And, once your transaction has been completed, you can immediately e-mail or text the receipt to the purchaser. If the sale is being made to someone who’s paid with Square before, the app will remember their contact information. That’s a nice time saver.
Other features that might interest you:
- Directory. Let customers find you.
- Discounts. Set up discounts (percentage or dollar amount) that can be deducted from a sale.
- Library. Create a searchable inventory of things that you sell.
- Analytics Dashboard. Get summaries, reports, and payment history.
- Payments With or Without the Card Reader. You can take payments using the reader or without it, but the fees will be different for each.
About the App
More About Square
Cost of card reader: Free
Merchant account required: No
Accepted credit cards: American Express, Visa, MasterCard, and Discover
Per swipe fee: 2.75% (with card reader) or 3.5 % + 15¢ (manual entry)
Flat monthly rate: $275 (with limits)