Square Payment Processing

Financial Chat Fintech Chat
#1

Anyone use a square card reader for their business? I’ve just ordered one of their card readers as it was free. I know there is a fee per transaction.

From 10 ways to have more money on Facebook:

Free Square Card Reader (to take payments on the go) - Normally these are £15-£18. Note: It’s a 1.75% transaction fee for all sales so whilst it’s free you’re charged a fee for each use. No monthly charge though so ideal for any small businesses / sole traders that don’t do a lot of in-person card purchases.

Accept chip and PIN cards, contactless cards, Apple Pay and Google Pay. Connect Square Reader wirelessly to your iOS or Android device with Bluetooth LE

  1. Create an account (asks quite a few questions, you can skip some of them)
  2. Add this to basket https://10ws.co/2N2AJV0
  3. Enter code TSBSQUARE

Boom done. Not a promoted post. Thanks to Mccoy

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#2

Depending on the volume and amount of your transactions, SumUp might be cheaper for you over time. The card reader costs £40, but their transaction fee is 1.69%. (Basically, once you reach £66,667 of sales, so it really depends on your sales volumes.)

#3

My use will be sparse to be honest.

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#4

SumUp readers are often available at hefty discounts. Rymans were doing two-for-one when I picked some up in March.

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#5

Used Square as a solution for a coffee kiosk in the City when I was still in the coffee game. Worked absolutely faultlessly for us.

I wouldn’t recommend iZettle incidentally - the reliability wasa nightmare for us as I remember.

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#6

As a customer I have noticed lots of places starting with iZettle and then switching away to anything else.

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#7

I used to use iZettle, but now use the SumUp 3G reader, money next day at 4pm

#8

Theres a doughnut stand on my local market that has used Paypal here, Izettle and now sumup.

All of the fintech acquirers it seems.

#9

I use the square payment gateway mostly, as the payouts over Stripe are much quicker.