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Square® Overview
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
Features
Restaurant
Features
Square®
Real-time Inventory management
Item modifiers
Item variants
Ingredient tracking
via 3rd party integration
Kitting (Combos)
Cost Tracking
Split checks
Table management
Tips management
Delivery management
Table management
Waitlist management
via 3rd party integration
Reservation management
Happy hour pricing
Retail
Features
Square®
Real-time Inventory management
Retail inventory matrix
3rd party app
Layaway management
Consignment management
Kitting (Bundles)
Pricing management
Return tracking and management
Item modifiers
Item variants
Warehouse Management
Cost Tracking
Commission management
General Features
Square®
Cloud-based
Ease of use
Multi-location support
Discount and promotion management
Consumer-grade hardware
Commercial-grade hardware (rugged)
Digital receipts
Custom user interface
Cash management
Offline access
Bulk inventory import and export
Age verification
Free trial
Reporting &
Analytic
Features
Square®
Real-time reporting
Sales reports
Commission reports
Shift reports
Customer reports
Predictive analysis
Tax detail reports
Discount detail reports
Void reports
Cash drawer reporting
Track pay-ins and payouts
Vendor
Management
Features
Square®
Purchase order management
Vendor management
retail only
Item price history
retail only
Employee
Management
Features
Square®
Employee commission
Time clock
Employee Scheduling
3rd party app
Payroll
addon,💲
Role-based &
custom
user permissions
Payment
Acceptance
Features
Square®
NFC
EMV
Swipe
Keyed-in
Electronic signature capture
Offline payment processing
Payment processor agnostic
Pay-at-the-Table
Mobile payments
PCI DSS compliance
Customer
Loyalty and
Marketing
Features
Square®
Gift cards
Customer database / CRM
Email marketing
Loyalty program
Customer (House) accounts
Third-Party Integrations
Square®
Ecommerce
Online ordering and delivery
Email marketing
Reputation management
Employee scheduling
Loyalty program
POS Hardware
Features
Square®
Touchscreen monitor
iPad
Android tablet
Windows tablet
1D barcode scanner
2D barcode scanner
Digital scale
Cash drawer
Customer facing display
Keyboard
Digital Signage
3rd party app
Industry
Square®
Full-service restaurant
Quick-service restaurant
Retail
Salon and spa
Square® vs.

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