Founded in 2009, Square® or Squareup® started as a simple payment app that allowed micro-merchants (think hobbyists and homeowners holding yard sales) to accept credit card payments using a smartphone. Square® acted as a payment aggregator by bypassing the traditional underwriting process of a merchant service account. ...
Since then, Square® has tried to move upmarket by adding other small business solutions that include point of sale systems, merchant cash advance programs, and payroll services.
Square® Pros and Cons
Pros - Square® offers a variety of services and solutions that can accommodate a range of industries
- Affordable monthly payments for POS systems and related services
- Supports third-party integrations
Cons - Processing fees are typically higher than what you'd pay from a traditional merchant service provider
- Limited customer support
- If your transactions look 'suspicious' Square® will hold onto your hard-earned money for an extended period
- POS programming and implementation services start at $600
Square® is Best For:- Retail stores
- Coffee shops
- Small restaurants
- Food trucks
- Service and repair professionals
- Independent cosmetologists
Square® Cost
- Square® for Retail: Starting at $60/month
- Square® for Restaurants: Starting at $60/month