Most of the businesses we speak to each day are invoicing clients, collecting deposits, accepting online bookings/payments – they need more than point of sale credit card processing through Square Register. When a client is paying for services, the customer is not always directly in front of the professional. There should be a single transaction fee…a low transaction fee. That means these processors should not be confusing their customers with complex pricing schedules. Innovations in payment processing technology have accelerated in recent years. A swipe? An online payment? An invoice payment? A card entry? Most on-the-go business professionals don’t want to have to stop and think about how much in fees they’ll be paying based on how their clients will be paying using their credit card or debit card. To make things even more complicated, the fee structures are different depending on how you accept payment. The unspoken truth is in the fine print, unfortunately. There are processing fees, per-transaction fees, batch fees, hardware fees, monthly gateway fees, setup fees, and more. The pricing structure for companies like Square Up, , American Express, and even PayPal are still stuck in the stone ages. Most business owners can relate to that. Cash flow is very important to small business owners, so keeping costs simple and low is a must. But the biggest limitation to accepting credit cards is high fees. And payments are deposited in your bank account within 1-2 business days. The Square Point of Sale system makes it easy for businesses to accept credit cards. Here are some of the common complaints we hear about Square. The feedback is simple: It can be really, really, really frustrating. You even get a free Square card reader. Square Capital can give businesses in these industries the small business loans and capital they need to get up and running. Square Up works well for businesses with retail locations, but it’s got a lot of limitations for service-based businesses.įor many of the service professionals that I speak to each day (like therapists, estheticians, stylists, personal trainers, yoga/pilates instructors, dog trainers, cleaners, coaches, contractors, tutors, and more), Square Up tends to have a number of key issues. With a Square account, you can collect payments, schedule appointments, and more. It’s tough, however, to not be partisan when I talk with small businesses every single day who complain about the costs, malfunctioning card readers, and unresponsive Square support.ĭon’t get me wrong – I think Square Up is perfect for specific industries like retailers, restaurants, and food trucks because of its ease of use. I’m going to try my best to have an unbiased view of Square Up. ![]() AND WHY IT’S A HUGE DEAL FOR SMALL BUSINESSES.
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