Selling Made Simple: Intro to Payments with Square[ Edited ]
June 2016 - last edited June 2016 by GoogleSmallBiz
Selling Made Simple: Intro to Payments with Square
The world of payments is evolving beyond the physical cash register. With mobile payment options, you can take your business anywhere. In this video Q&A, Square answers your questions on how you can use a payment processor to grow your business.
What are the differences between traditional credit card processors and mobile payment processing for businesses?
Mobile Payment Processing with Square
- Single low rate of 2.75% per transaction for all major credit cards - no contracts, no additional costs or fees.
- A Square account can be set up in minutes and requires no commitments whatsoever.
- The mobile credit card reader is free and easily plugs into the standard headphone jack of your smartphone or tablet.
- Access a singular point-of-sale for your business no matter where you are taking a payment -- so every dollar earned in the field goes to the same bank account as your in-store processor.
Traditional Credit Card Processors
- Tiered rate structure makes it difficult to understand how much you’re really being charged for each transaction. The advertised price isn’t always the one you get.
- The issuing bank of your customer’s credit card creates a double layer of fees on top of your merchant account provider.
- A traditional merchant account requires you to pass a credit check. and long-term contracts.
- In addition to the extra cost of leasing or buying a credit card terminal, they are hard-wired to a single location.
Originally published November, 2014