Square Credit Card Processor Review
Our team has reviewed Square POS and discussed its reliability and perks for all types of businesses. And after reading a handful of customer reviews and doing our research, we can be confident about Square credit card processor as one of the best providers out there.
Square stars in the field by offering free account maintenance, free PCI compliant system, and a free mobile app that has the full suite of point-of-sale. We still have much to tell you, let's get right into our review and find out if Square credit card processor is what a business needs to thrive.
1. Jam-packed mobile app for both Android and Apple devices
2. Competitive flat-rate transaction fees
3. Free features such as payment gateway and PCI compliance
4. No monthly or annual fees
5. Good for growing businesses
Square credit card processor is a full-service solution that is rich with features and advanced solutions. What we also like about the service is the absence of monthly fees. Square's cost has always been one of its strongest perks, merchants typically pay a flat rate of 2.6%+ $0.10 for swiped or tapped transactions, 2.9%+$0.30 for online transactions, and 3.5%+$0.15 for keyed transactions.
All Square credit card processing solutions are CPI compliance and guarantee payments security. The company offers a free mobile app that is compatible with both Android and Apple, with simple flat-rate and no contracts are required.
Here's what comes with every account:
- Free Square reader for magstripe
- Free Square point-of-sale app
- Live chat support
- Fast online sing up
- End-to-end encrypted payments
- PCI compliant payment processing solutions
Every business size and type has its own requirements, in a nutshell, here's what industries Square credit card processor is best suited for:
- Retail: No matter your business size or style, Square offers fully-featured payment processing solutions, the company provides inventory management tools, customer management, an all-in-one system for payrolls, reports, analytics, and a handful of other features to take control over your business.
- Food and beverage: Square allows full access to real-time menu updates and inventory data. There are also accurate and detailed reports to keep an eye on the sales and cash flow. If you choose the free point-of-sale, customer support will be available Monday to Friday, from 6 a.m. to 6 p.m. PT support.
- Professional services: Square allows merchants to focus on their business growth and customers satisfaction by offering a comprehensive suite of integrated tools, secure payment options, flexible hardware solutions, and multiple types of payments. You don't even have to worry about your customer finding a way to pay for the service, Square accepts cash, checks, swipe or chip cards, ACH bank transfers, credit cards, debit cards, and Contactless payments including Apple Pay and Google Pay.
The company supports all business sizes, with many add-ons to help small businesses grow. Let's find out about the presented features in detail:
User-friendly application and easy setup
You can sign up online for Square's processing services within a few minutes, all it takes is some basic information about your business, and there is no need to submit documentation, such as your previous processing statements. The good news is that it approves the application quickly and you can start processing the same day you register.
Square card reader takes about 10 days to arrive, meanwhile there will be a higher keyed-in rate. You can process credit cards by swiping the card through a card reader. Stripe processes contactless payments, chip cards, and cash app pay transactions.
Free point-of-sale software
Square point of sale is compatible with Apple and Android devices, including tablets and smartphones, it's free to download and has all needed features to help you run your businesses.
The average time Square takes to transfer the money to your bank account is 1 to 2 days, but if you choose to instantly deposit the funds, you can schedule a same-day deposit for 1.5%.
Square doesn't impose chargeback transactions. Instead, the company assists users to resolve the issue. If a customer initiates a chargeback, Square will put a hold on the disputed funds, and it can take about 90 days for your customer's bank to review the claim.
Whether you want your business to thrive or need to drive new customers, Square credit card processors allow managing all your business aspects with a decent number of integrations. Square integrates with Homebase, TapMango, 7Shifts, BentoBox, Deputy, Peachworks, and many other services.
There are different fees for each type of payment, so mainly, the cost varies depending on the payment whether it's a credit card, debit card, or contactless payment.
Let's get started with the cost of the in-person payments that are made at the point-of-sale, but before we head to the fees of each transaction, it's important to know that the type of terminal makes a difference, but in this section, we'll focus on the general Square point of sale fees. However, the company has three other options: Square for restaurants, Square for Retail, and Square Appointments.
- For in-person payments, the company charges 2.6% + $14.10 for every tapped (mobile payment), dipped (chip cards), or swiped (magstripe cards) payment, with fee Square reader for magstripe for the first reader, and $10 for each additional one.
- Square as we said before, accepts payments on the website, by invoice, or over the phone, for these types of payments, the company charges 2.9% + $42.31 for Square invoices card transactions, 3.5% + $21.16 for Square virtual terminal transactions, 2.9% + $42.31 for eCommerce transactions, and 1% with a $1 minimum for ACH bank transactions.
Square credit card processor has a 5-star rating for its ease of use, transparent policies, affordable prices, and its large number of solutions for merchants. Regarding the support channels, Square offers 24/7 customer support via email and phone support if you opt for the Plus plan.
If you want to read more on a certain topic, you can refer to the FAQs, guides, or blogs page to have a better understanding of the service and its features. Live chat is also available in case you need instant support from one of the company's agents.
Square credit card processors can be a good fit for small, medium, and large businesses. The solutions are rich with features with the ability to tier up for more advanced functionalities. What we also like about Square is its excellent customer support options via live chat, phone, and email.