Square is a mobile payment company focused on credit card processing and merchant solutions, aiming to make commerce easy. Over the years, the company has developed both software and hardware products, as well as business solutions to facilitate commerce. Square charges merchants 2.75% of the sales price plus 10 cents of any transaction they process via swipe, insert, or tap. Also, it charges 3.5% plus 15 cents for every manually keyed-in transaction. Square POS lets customers pay, tip, and sign on a merchant’s mobile phone or tablet, and lets merchants process payments made with credit cards, gift cards, and cash. Business owners can also use the app to send and track invoices, customize products, email receipts, apply discounts, administer refunds, access real-time sales data, and track inventory in real-time.
- Square’s POS gives your business a modern way to instantly process customers’ credit and debit payments. Square offers merchants a transaction fee of 2.75% per swipe.
- Square’s POS is ideal for customization. Regardless of your business, you can set up your store any way you’d like and group products, services, and add-ons in whichever categories make the most sense to your team. It’s great from a customer UX standpoint but it’s also ideal for employee training. It’s simple to understand and easy to learn, perfect for getting new employees up and running.
- Square’s POS goes beyond payment processing and acts a complete employee management tool. It enables a manager to set up specific employee accounts for each worker, complete with custom permissions that restrict access to specific functions based on the employee’s role in the company.
- Square’s POS can even act as an entry-level Customer Relationship Management (CRM) system. By logging and storing all pertinent customer data.
- Square encrypts all data using industry standard methods. Uses only standard, well-reviewed cryptographic protocols and message formats (such as SSL and PGP) when transferring data. Card-processing systems adhere to PCI Data Security Standard (PCI-DSS), Level 1.
- Requires two-factor authentication and strong password controls for administrative access to systems.