For some small businesses, accepting credit card payments can be a complicated and expensive process. Luckily, there’s an app for that! Square is an electronic payment service available on iOS, Android, and the iPad that allows users to swipe credit cards through a miniscule square card reader that plugs into the audio jack of the mobile device. Square currently provides the card readers for free to its users, and the app is free to download from the App Store and Google Play Store. Not only can credit cards be swiped through the card reader but the app conveniently allows the card number to be entered manually as well.
The app utilizes the touch screen capabilities on mobile devices to permit businesses to collect digital signatures. Customers are also able to enter an email address or phone number to receive a personalized receipt. Tips can also be added to the payment, as well as sales tax if appropriate. Swiped payments are deposited directly into the user’s bank account within 1-2 business days. The online transaction manager allows businesses to easily see earnings in detail, and reports can be downloaded and integrated into a spreadsheet or accounting software.
The application was co-founded by Twitter creator Jack Dorsey and Jim McKelvey. In August 2012, Starbucks announced it would start using Square to process transactions with customers who pay with debit or credit cards, investing $25 million in Square Inc. This app is not only applicable for large businesses such as Starbucks, but small businesses can use it as well, especially those who are out in the field and may need an alternative form of collecting payment when they are not in the office.
We know people who love this app! Have you ever used Square? How did the application affect your business?