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Square POS

From Swipe to Deposit: A Square POS Review

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From Swipe to Deposit: A Square POS Review
Square Merchant Services

January 23rd, 2024

Square POS is a transformative point-of-sale (POS) system provider designed to streamline business transactions for retail, restaurants, and appointment-based services. The company offers more than just transactional tools; they provide advanced inventory management and reporting features, seamless integration with eCommerce for online and in-store sales, and payroll processing. Keep reading to uncover their features, advantages, drawbacks, and more in this review.
 

Pros

No fees outside of transaction fees
Transparent prices

Cons

Incompatible with Windows systems
Random account deactivation
Prolonged fund withholding
Limited protection against scams

Quick Stats

Business Size Supported
Any
Trustpilot Score
4.1
Customer Experience
Fair
Transparent Pricing
Available
Pricing Model
Paid plans and transaction fees
BBB Rating
A+
Money-Back Guarantee
Available
Pricing
2.6% + 10 cents per transaction

At a Glance

Headquartered in San Francisco, California, and founded in 2009, Square stands out as a versatile POS provider that has earned accreditation from the Better Business Bureau (BBB) with an A+ rating. This recognition highlights Square's commitment to empowering diverse businesses' in-store and online transactions, including retail stores, restaurants, and appointment-based services.
Serving a broad spectrum of businesses, from small businesses to large enterprises, the renowned POS provider offers a comprehensive suite of services encompassing payment processing, online ordering, inventory management, customer engagement through CRM software, and more.
Emphasizing data security and compliance with PCI standards, the company implements industry-leading measures such as card swipe encryption, secure software development practices, 24/7 server monitoring, and rigorous employee security policies. This is complemented by diverse hardware options, including the seamlessly integrated Square Register and user-friendly software.

Top Square POS Features

With an array of transformative features, from effortless payment processing and robust inventory management to scalable solutions, Square redefines how you conduct transactions and elevates your customer interactions.

Payment processing: Square empowers businesses to accept various payment options, including credit card payments, contactless payments, and digital wallets like Apple Pay and Google Pay.
Employee management: The company enables efficient management of team hours, permissions, and access through customizable employee settings.

Inventory management: Square streamlines inventory tracking across multiple locations with advanced tools and reports, facilitating informed, data-driven decisions and seamless management.
Invoicing: The POS provider allows users to send unlimited digital invoices, accept payments, send reminders, and easily track paid invoices.

Omnichannel integration: Square seamlessly integrates with eCommerce for centralized online and in-store sales management across multiple locations.

Analytics and reporting: Square provides access to downloadable reports and key metrics, such as gross sales, sales count, and refunds, empowering businesses to make informed decisions.

Multistore capabilities: The company enables businesses to manage multiple locations with unique business profiles, specific business hours, and individual bank accounts.

Scalability: Square's features cater to businesses of all sizes, offering diverse hardware options to meet different needs.

Hardware: There are several Square hardware options available for you to choose from, including the Square Terminal and Square Card Reader. This provides businesses with essential tools for payment processing and POS system functionality.

Third-party integrations: Square seamlessly syncs with various third-party tools and partners, including Wix, WooCommerce, Quickbooks Online, Mailchimp, and many more applications available on their online store.

Order management: Square enhances sales processes by allowing businesses to add notes to items or custom amounts at the time of sale, minimizing future questions or disputes.

Add-ons: The company offers a range of add-ons to elevate your POS system, including Square payroll, Virtual Terminal, customer loyalty programs, and gift cards, offering diverse products and tools to enhance your business operations.

Plans & Pricing

Square's POS software package boasts a transparent pricing structure, featuring a monthly fee of $0 and no hidden charges, contracts, or setup fees. Every Square account includes valuable features like next-day transfers, account takeover protection, and secure, end-to-end encrypted payments. Users benefit from a range of offerings, such as the Point of Sale app, fraud prevention, dispute management, and a complimentary Square Reader for in-person transactions. Payment processing fees vary based on the card payment type: 2.6% + 10 cents for card-present, 2.9% + 30 cents for card-not-present, and 3.5% + 15 cents for keyed-in transactions. For businesses processing over $250K in credit card sales, the company offers flexibility in custom rates, with details available through their sales team.

Packages

They also offer specialized packages with a fixed processing fee of 2.6% + 10¢ per transaction. The packages include services for restaurants, retail, and appointments.

Square for Restaurants: Tailored specifically for restaurants, this all-in-one specialized POS service features menu management, table and order management, and seamless kitchen display integration. The company provides a free version, which can be enhanced to the Plus plan at $60 per month, while the highest-tier plan is available at $153 per month per location. Before choosing your subscription tier, ensure your decision aligns with the features you need to avoid wasting money on redundant or unnecessary features.

Square for Retail: Designed for retail businesses, this package includes features like inventory management, smart reporting, and real-time shipping rates. Offering three distinct monthly subscription plans—Free, Plus, and Premium—Square provides flexibility to businesses of all sizes. The Plus plan, priced at $89 per month per location, caters to specific needs, while the Premium plan offers custom pricing, ensuring a tailored solution for individual business requirements.

Square Appointments: Catering to service-based businesses, bundle offers scheduling and booking software with automated reminders, recurring appointments, and multilocation management. They offer a free plan that can be upgraded to the plus plan at $29/per month per location, with the highest tier going for $69 per month per location.

Advantages & Benefits

The advantages of Square POS encompass a range of features designed to empower businesses.

30-day free trial for the Plus plan

Elevating the user experience, Square extends a 30-day free trial for all Plus plans. This trial period not only introduces businesses to advanced features like lower processing rates, real-time shipping rates, and premium customer support but also allows them to evaluate the suitability of the Plus plan for their specific needs before committing.

Transparent prices

Square takes transparency to the next level by offering clear and comprehensible pricing. This transparency empowers businesses to make well-informed decisions, providing them with a deeper understanding of the value they receive in exchange for the price paid.

No fees outside of transaction fees

Apart from their transparent pricing model, what sets Square apart is having no fees beyond transaction fees. This simplicity in fee structure not only promotes clarity but also aids businesses in effective cost management, enabling them to foresee and account for the costs associated with each transaction.

Robust integration with third-party hardware

Emphasizing flexibility, Square seamlessly integrates with third-party hardware. This feature gives businesses the freedom to choose and utilize hardware that aligns with their unique operational requirements. Such integration capabilities empower businesses to tailor their POS setup according to their distinct needs and preferences.

Drawbacks & Disadvantages

From compatibility issues to random account deactivation and prolonged fund holding, Square's disadvantages warrant a closer examination of user experiences.

Incompatible with Windows systems

Square's lack of compatibility with Windows systems may pose challenges for businesses that prefer utilizing Windows-based POS systems, restricting their flexibility and choice of platforms.

Random account deactivation

Many online reviewers reported Square's tendency to deactivate accounts randomly. This unpredictable account deactivation has been a source of concern and, in many cases, has led to disruptions in business operations and revenue loss.

Prolonged fund withholding

Many online reviews have expressed frustration with Square's practice of holding funds for certain transactions, causing delays for businesses to access their money. This can be challenging for companies with high transaction volumes or occasional larger-than-expected transactions, affecting their cash flow and financial flexibility.

Limited protection against scams

Square has been heavily criticized for their insufficient protection against scams, leaving businesses vulnerable to potential fraudulent activities. This deficiency in security measures can pose a significant concern for businesses reliant on online transactions, as it may compromise the security of customer information and expose them to financial risks.

User Reviews

The reviews regarding Square seem mixed with the reception of positive recognition for their user-friendly features and helpful services across platforms like G2, Trustpilot, and BBB. However, concerns about cost, customer service, and consistent issues such as sudden account deactivation persist, providing a comprehensive overview of the mixed sentiments surrounding their services.

The positive reviews on G2 highlight Square Software's ease of use and excellent services, evident from their 4.5 out of 5 rating. Users appreciate the app's easy setup and robust set of features, with particular praise for the over-the-phone payment feature. However, negative feedback concerns cost, customer service, and occasional system failures. Notably, some users report abrupt account deactivation without proper warning, echoing a common thread among these complaints.

On Trustpilot, the company maintains a solid 4.1 rating across all features. Many users commend the company for contributing to increased sales volume, providing user-friendly experiences, and delivering reliable POS services. On the flip side, complaints focus on subpar customer service and instances of sudden account deactivation. One customer shares the frustration of having their account deactivated, with funds placed on hold, only to receive vague responses when seeking clarification.

While Square holds an A+ accreditation on the BBB, it's important to note that positive reviews on the platform are limited, resulting in a rating of 1.06 out of 5 stars. Positive comments emphasize the company's intuitive application, user-friendly interface, and efficient fund transfers to various cards. Negative reviews, on the other hand, highlight complaints like the inability to deliver purchased items, weak scam protection measures, and challenges in providing feedback. Instances of prolonged fund withholding and random account deactivation also make a resurgence on the company's BBB profile.

How Do I Contact Square?

For assistance, the company provides multiple avenues to connect with their team. You can reach out directly by calling their customer phone support at (855) 700-6000 or contacting their sales team at (800) 470-1673. Explore the live chat feature available on their official website for real-time assistance.

Engage with their seller community, where you can post questions on the official inquiry board. Here, a certified representative will answer your inquiries. Additionally, you can stay connected through their official social media pages on Twitter (X), Facebook, and Instagram. This multi-channel approach ensures you have various options to connect and get the support you need.

Overall Assessment

In conclusion, Square POS is a versatile solution for businesses in retail, restaurants, and appointment-based services. With advanced features like transparent pricing, a 30-day free trial, and third-party hardware integration, Square aims to streamline transactions. However, potential drawbacks that potential clients need to be aware of include compatibility issues, random account deactivation, prolonged fund holding, and limited protection against scams. User reviews express mixed sentiments, highlighting positive aspects like user-friendly features but noting concerns about cost and customer service. Generally, the company offers dynamic solutions for secure and efficient transactional operations.

Elevate your decision-making process by utilizing our comprehensive comparison tool, ensuring that you select the optimal choice for your business. Discover the best POS companies and explore alternative options through our curated list of top POS providers. Stay ahead of industry trends through engaging content featured on our blog.

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