Tuesday, February 1, 2011

Are you accepting credit cards on your mobile?

One of our Craftstravaganzaa friends turned me on to this new (to me, anyway) service called Square.   It is an app for your iphone, ipod or droid platform phone that allows  you to swipe credit cards for payment anytime - anywhere. 

I've gathered some information from their website and so far, the service looks very cool. No merchant account needed, no contract, no monthly fees - just pay a transaction fee with each transaction.  You don't use it, you do not owe anything.  That's the way I like it! Plus the card reader is FREE! 

Check their website for more info and let  me know what you think of it. 

Is my device supported with Square?
Updated Jan 28, 2011 02:09PM PST
Square is available for a variety of devices on the Apple iOS and Google Android platforms. As new devices are released, we perform stringent and meticulous tests to make sure that each device will be fully compatible with Square and will process payments easily, securely, and accurately.

For a full up-to-date list, check out our 
getting started page.
Find the Square app on the iTunes App Store or Android Market on the following devices:
Apple iOS
Google Android
  • Motorola Droid, Droid X
  • HTC Nexus One, Droid Incredible, Evo, Desire, Hero (With Android 2.X)
  • Samsung Galaxy S series (including the Captivate, Vibrant, Epic 4G and the Fascinate), Intercept
  • LG Ally
  • Dell Streak

Keep in mind that while Square may work on an iOS or Android phone or tablet that is not mentioned above, please remember that we cannot provide support for any devices not listed here. We're always looking to expand this list in the future though!

How do I get a card reader?

During the application process, we'll ask you for a mailing address. When we have your free Square card reader ready for you, we'll automatically email you as soon as it has shipped. As soon as it does, all you need to do is plug it into your headphone port, open the Square app, and swipe a card. That's it!

What are the Transaction Fees?
In order for Square to transfer your funds to you, you'll need to enter your bank account information on your Square account settings page. Square will automatically send you your money after a 24 hour period. It can take 2-4 business days, depending on your bank, for the electronic transfer to clear.

Square's card processing fees are simply:

2.75% + 15¢ for swiped transactions
3.5% + 15¢ for keyed-in transactions

That's it! There are no activation, gateway, monthly, early termination, hidden fees or any additional costs to use Square. Every credit or debit card we accept (Visa, Mastercard, Amex and Discover) have the same flat rate. These fees are static and do not change depending on how much the transaction was for. As our fees are taken out of each transaction as they occur, there is no fee schedule. Square also does not require a contract upon signup and since we only charge per transaction, it doesn't cost you anything if you don't use it!

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