Now you can turn your Smart Phone into a device that can accept credit card payments!
January 10, 2011 1 Comment Tuesday, January 11th, 2011, Netcast 1262
When Leo said his pick for this Turn The Table Tuesday was a piece of free hardware that could be used with a free app, I was really interested! Turns out this device is pretty neat, especially if you’re a person who likes to sell things from time to time and would like to be able to take credit cards. Even though a majority of payments has moved to plastic cards, accepting payments from cards for the small businessperson is not easy. It requires long applications, expensive hardware, and an overly complex experience. That why Square was born! It’s a tiny device less than an inch square that fits into your Smart Phone. (Apple & Android Apps available.) It has a slot in one side that copies all the info needed from a customer’s credit cards when you swipe it through. (Your device needs to be connected to the web when you swipe the card.) The best part? There are no activation, gateway, monthly, early termination, or hidden fees. Here’s a bit of info from their website: Square allows you to accept *unlimited* payments, period. There are no limits on transaction size or transactions. As a new Square user, we will immediately deposit your first $1,001 of sales per week to your bank account, which means you have access to the money by tomorrow. Any remaining amount will be transferred to your bank account within 30 days of the transaction. And the cost: 2.75% + 15¢ for swiped transactions and 3.5% + 15¢ for keyed-in transactions. (Keyed in is when you don’t use the credit card swipe.) It seems like a great idea for a person who wants to take credit cards without a big-deal set-up. Check out the Square website for all the details.
SEE or hear this Netcast: www.twit.tv/dgw1262
Reader Comments (1)
I just ordered my Sqaure device this morning and I can't wait to get it. I'm really excited to see a service like this... and you can't beat the price, IMHO. In my web design business, I don't have a lot of transactions, so it fits in perfectly with my business model.