This remains a challenging economy for the people who own small businesses. It’s tough to bring in customers, to convince them to purchase your products or services, in an environment where unemployment remains at nearly 8 percent. The good news? Small business entrepreneurs do, because of improving technology, have a greater number of tools to help them attract and retain customers. One such tool? Square. This credit-card processing service allows companies to easily close credit-card payments just by using their smart phones or tablets and the tiny Square credit-card reader. But Square isn’t all benefits. You’ll also have to pay an added fee with every sale you make with it. You’ll have to choose if the benefits of Square outweigh these extra costs.

How it works

The Square reader connects to the audio port of your smart phone or tablet. Whenever a customer wants to purchase a product or service using a credit card, you merely swipe the card through the reader. Or, manually enter in the credit-card number . The app that powers this, Square Register, is free. You can get it from the App Store or from the Google Play shop. Once you do, you’re set to begin accepting credit-card payments.

The Biggest Positive of Square

Square is incredibly simple to operate. That’s why it’s perfect for overworked small business owners. There is no lengthy instruction book to pore through. There aren’t any complicated installations. This is why Square has grown to become so popular among business owners. A recent story in USA Today reported that more than 800,000 customers are using Square today. The system is also straightforward for consumers. With it, even the smallest of business entrepreneurs can accept credit-card transactions. You won’t have to send your customers to the corner ATM for cash.

The Downside to Square

There is a major drawback with Square: the cost that business owners must pay to use the service. Every time business owners swipe a credit card through the Square Reader, they’ll have to pay 2.75 percent of the transaction to Square, Inc. Each time owners must manually type in credit-card numbers, they’ll pay 3.5 percent to Square, Inc. Another potential drawback? In its review of the service, Entrepreneur Magazine said that the company should boost its customer service. Human-provided technical support was lacking, according to the magazine’s review.

 

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