Square Credit Card Reader is Now a Go

square-credit-card-swipe

You may already be familiar with Square, the mobile credit card reader for your iOS or Android device, but here’s a quick run down of how it works. You download the Square application and the company sends out a small dongle which allows you to receive payments via credit cards. Pretty simple. Now it’s open to all.

Here’s what we reported back in May when it started making a splash:

The system involves a small dongle that plugs into the headphone jack of the iPhone or iPod Touch and this is used to swipe acredit card. The app then securely sends the information over the air and the end user has to sign the device with their finger to complete the transaction. A receipt (with optional geotagging) is then sent to the customer via e-mail or SMS and funds are withdrawn like normal.

Pretty convenient, right?

Jack Dorsey, who co-founded Twitter, leads this project and recently tweeted, “The doors are (finally) open @Square & we’re going big.” Indeed, this will be huge in the way individuals and smaller business deal with transactions. While Square will naturally be taking a percentage of transactions, it’s much smaller than what you’d have to fork over in setting up a traditional POS terminal.

Mashable reports:

Combined with the Square mobile app, the reader can take credit card payments. Merchants are charged 2.75% of the purchase price plus $0.15 to swipe a card. There are no monthly charges or set-up fees and no contract is required.

Having no monthly or set-up fees for Square is a nice bonus in addition to the small percentage and bit of change charged with each transaction. The additional convenience should be reason enough to adopt this if you’re receiving credit card payments often.

Check out the slick little video below for one demo for how this thing can be put to use:

[Via: Mashable]

  • Jeff

    Here is a new peppy 1-minute video giving people advice on the responsible use of debit, ATM and credit cards.

    “Card Tricks Revealed: How Not To Burn Money”
    http://www.youtube.com/watch?v=rKRHiA0tYCc

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

    • ispyanidiot

      Take a math course moron…

      • Kd

        I spy a fool.

  • notbuyingintoit

    so for the vendor, if you are selling lets say, a latte for $3.75 then it’s 15 cents plus 2.75% which is actually 6.7%. WOW, how is this smart?

  • Lala

    I signed up for Square late September 2010 based on reviews and buzz. IT IS NOT WORTH IT. It’s early December and I’m switching over to another company who has a monthly fee but a customer support phone number and a 48 hour deposit time.

    Square deposits the first $1000 but then holds the rest of your money for 30 days and deposits it in some illogical increment. So if you have a charge after that initial $1000 for example, on the 21st, you get some of it deposited 30 days later; if you had another charge on the 22nd, again, you get some of it 30 days later etc. You end up getting your money in small irregular increments which basically devalues your money.

    Think of having $100 but getting it in pocket change as $1 on one day, $7 a few days later; $4 a week later and so on and so forth.

    Plus if you do the math, their rates are high. You’re better off with a monthly fee and lower rates.

  • Falmouthyardcare

    We started using Square as a test for my customers convenience.  DON”T DO IT… THEY WILL HOLD YOUR MONEY FOR 30 DAYS AFTER FIRST $1000.00. Limit is reached. NO CUSTOMER SERVICE, NO PHONE NUMBERS< SWIPE DOES NOT WORK TAKING EVEN MORE OF YOUR MONEY Keep reading other reviews from actual users [email protected]

  • Sam

    disappointing that a companyfloating millions of dollars a day  has no customer service number!

  • Nbweaver1

    You guys need to get a customer service number because your “help” section does even come close to addressing my problems with your product!

  • Xd357sig

    Some of the above information is incorrect.  The 15 cents is for keyed transactions.  Swipes are only 2.75%.  I just vendored a convention and had all funds deposited into my account within 48 hours. 

    The $1000 hold is for keyed transactions only.  There is no limit/hold on swiped transactions.  Keyed transactions are also processed at a higher percentage, so swipe!

    I love Square.  The hotel hosting the above mentioned convention charged a tidy fee for providing a phone line for regular credit card terminal processing.  I processed my sales on my Android phone with no hotel hookup charges. 

  • Linda Lee

    Hi, I just signed up for this and I am absolutely HORRIFIED. There is no phone number! They call me using text messages in the middle of the night and every one of those costs me money! There is ZERO service and I mistrust any company that can’t provide basic custome service. I hate them so far.

  • Anonymous

    I’m lucky I can’t get enough of technology otherwise I may have had enough

  • http://www.cardauthorizer.com/ Accept credit cards

    I think hey call me using text messages in the middle of the night and every one of those costs me money! There is ZERO service and I mistrust any company that can’t provide basic custome service.

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