About
Overview
Square is a financial services and mobile payment company. It provides a comprehensive ecosystem of hardware (POS terminals) and software (invoicing, payroll, online store) tailored for small to medium-sized businesses.
Pricing & Free Tier
Free Tier: No monthly fee for the basic POS software.
Transaction Fees: 2.6% + 10¢ for in-person payments; 2.9% + 30¢ for online payments.
Square for Retail: $89/month for advanced inventory and barcode support.
How to Use
- Create a Square account and order a free magstripe reader.
- Download the Square POS app on your phone or tablet.
- Connect your bank account for next-day transfers.
- Swipe or insert a card to complete a transaction.
Important Notes
- Hardware Lock-in: Square's contactless readers (like the Square Reader) are proprietary and only work with Square's software.
- Custom Rates: If you process over $250k annually, you can contact Square to negotiate lower custom transaction rates.