How I use Square to run my online content business [Square Review]

If you’re looking for a payment processing solution for your business, you might consider Square.

Square is a popular payment processing solution that allows businesses to accept payments through various channels, including online, in-person, and over the phone. In this article, we will provide you with a comprehensive Square review to help you determine if it’s the right payment processing solution for your business.

Square offers a variety of features that can help businesses streamline their payment processing operations.

These features include:

• A user-friendly point-of-sale system
• Online store capabilities, and
• Invoicing tools

Additionally, Square offers competitive pricing and doesn’t require long-term contracts or monthly fees. It’s important to note that Square may not be the best payment processing solution for every business.

Depending on your business’s needs, you may find that another payment processing solution is a better fit. In the following sections, we will delve deeper into the features and pricing of Square to help you determine if it’s the right choice for your business.

What is Square?

Square is a payment processing company that offers a range of tools and services to help businesses manage their transactions. In this section, we’ll take a look at the history of Square and some of the key features that make it a popular choice for businesses of all sizes.

Square was founded in 2009 by Jack Dorsey, the co-founder of Twitter. The company started out as a mobile payment solution, allowing small businesses to accept credit card payments using a smartphone or tablet. Since then, Square has expanded its offerings to include a range of other services, such as online payments, invoicing, and payroll management.

Today, Square is used by millions of businesses around the world, from small startups to large corporations. The company has also expanded into other areas, such as lending and cryptocurrency, making it a one-stop-shop for many businesses.

Square’s Key Features

One of the key features of Square is its ease of use. The company’s mobile app and web dashboard are intuitive and user-friendly, making it easy for businesses to manage their transactions and finances. Square also offers a range of tools to help businesses grow, such as marketing and loyalty programs.

Another important feature of Square is its payment processing capabilities. The company offers competitive rates and fast deposits, making it a popular choice for businesses that need to process a large volume of transactions. Square also offers a range of hardware options, such as card readers and terminals, to suit different business needs.

What I like about Square is that they offer a payment processing solution for businesses of all sizes.

• Small businesses
• Entrepreneurs
• Solopreneurs

It can be a fit for payment processing for many different kinds of businesses, too:

• Retail stores
• Food and drink establishments (restaurants)
• Beauty
• Wellness

Overall, Square is a reliable and user-friendly payment processing solution that offers a range of tools and services to help businesses manage their transactions and grow.

How does Square work?

If you’re considering using Square for your business, you’ll want to understand how their payment processing and point of sale system work. Here’s a breakdown of each:

Payment Processing

Square is a payment processing platform that accepts credit and debit card payments. When you use Square, you’ll pay a flat fee per transaction. This fee varies depending on the type of transaction and the payment method used. For example, if you’re processing a credit card payment, you’ll pay a different fee than if you’re processing a debit card payment.

Square also offers a feature called “Instant Deposit,” which allows you to receive payment immediately instead of waiting for the standard processing time. However, there is an additional fee for this service.

Point of Sale System

Square’s point of sale system is a software platform that allows you to manage your business’s sales transactions. With Square, you can accept payments, track inventory, and manage customer data all in one place.

The point of sale system is designed to be user-friendly and intuitive. You can customize the interface to fit your business’s needs, and you can access the system from any device with an internet connection.

One of the benefits of the Square point of sale system is its ability to integrate with other software platforms. For example, you can integrate Square with your accounting software to streamline your bookkeeping processes.

Overall, Square’s payment processing and point of sale system are designed to be easy to use and affordable for businesses of all sizes. If you’re looking for a simple and effective way to manage your sales transactions, Square may be the right choice for you.

Square’s Additional Services

Square offers more than just a point-of-sale system. They also provide additional services that can help you manage your business. Here are two of their most popular services:

Square Capital

If you need a loan to help grow your business, Square Capital may be able to help. Square Capital offers loans to eligible businesses that use Square. The loans are based on your business’s sales history, and the application process is simple and fast.

Square Capital offers flexible repayment options, and there are no hidden fees or prepayment penalties. The loans can be used for a variety of purposes, such as purchasing inventory, expanding your business, or hiring new employees.

Square Payroll

Square Payroll is a payroll management system that can help you pay your employees quickly and easily. With Square Payroll, you can set up direct deposit for your employees, calculate and file payroll taxes, and manage employee benefits.

Square Payroll also offers a variety of other features, such as timecard management, paid time off tracking, and employee self-service. The system is easy to use, and you can access it from anywhere with an internet connection.

Overall, Square’s additional services can help you manage your business more efficiently. Whether you need a loan to grow your business or a payroll management system to pay your employees, Square has you covered.

Square Banking

With Square Banking, you get access to:

• Checking
• Savings and,
• Loans

The banking feature is genius. It allows you to have all your business needs housed under one roof!

Everything is connected and the flow of your business capital and expenses can be managed in one place, easily.

User Experience with Square

Square is a widely used payment processing platform that offers a range of features for businesses of all sizes. In terms of user experience, Square has a lot to offer. Here’s a look at the ease of use and customer support offered by Square.

Ease of Use

One of the key benefits of Square is its ease of use. The platform is designed to be user-friendly and intuitive, making it easy for you to get started. The Square dashboard is well-organized, and you can easily navigate to all the key features you need to manage your business.

Square offers a range of payment processing options, including credit card payments, invoicing, and online payments. You can also use Square to manage your inventory, track sales, and generate reports. All of these features are easy to use and can be accessed from the Square dashboard.

Customer Support

Customer support is an important aspect of any payment processing platform, and Square is no exception. Square offers a range of support options to help you get the most out of the platform.

If you need help with Square, you can contact the support team via phone, email, or live chat. The support team is available 24/7 to help you with any issues you may have. Square also has a comprehensive knowledge base that includes articles, videos, and tutorials to help you learn more about the platform.

What are others saying about Square?

Forbes and Nerdwallet rank Square a 5/5 for two consecutive years.

Overall, Square is a user-friendly payment processing platform that offers a range of features to help you manage your business. With its intuitive dashboard and comprehensive customer support, Square is a great choice for businesses of all sizes.

Square Pricing Review

If you are considering using Square for your business, you will be pleased to know that the company offers a transparent and straightforward pricing model. In this section, we will review Square’s pricing structure and compare it to other payment processors.

Fees Structure

Square charges a flat rate of 2.6% + 10 cents per transaction for swiped, dipped, or tapped payments. For manually keyed-in or card on file payments, the fee is 3.5% + 15 cents per transaction. There are no monthly fees, setup fees, or cancellation fees. Square also offers a range of hardware options, including card readers, terminals, and stands, which are priced separately.

One of the advantages of Square’s pricing model is that it is predictable and easy to understand. You know exactly how much you will pay per transaction, regardless of the type of card or the amount of the payment. This can be particularly beneficial for small businesses with low transaction volumes.

Comparative Analysis

When compared to other payment processors, Square’s pricing is competitive, especially for businesses with low transaction volumes. For example, PayPal charges a fee of 2.9% + 30 cents per transaction, which can add up quickly for businesses with high transaction volumes. Stripe charges a similar fee of 2.9% + 30 cents per transaction, but it also offers volume discounts for businesses with high transaction volumes.

However, it is worth noting that Square may not be the best option for businesses in high-risk industries, such as adult entertainment, gambling, or firearms. Square has been known to freeze accounts and hold funds for businesses in these industries, which can be disruptive and costly.

Overall, Square’s pricing is competitive and transparent, making it a good option for small businesses with low transaction volumes. If you are considering using Square, be sure to review the company’s terms of service and hardware options to ensure that it is the right fit for your business.

My personal experience with Square

The payment processing options were kind of limited for businesses like mine years ago. I was left to Paypal for years, which I wasn’t very fond of. I found Square and instantly fell in love with their instant, easy invoicing system.

That’s what I use Square the most for.

When I need to bill a client, I can set up and send an invoice in seconds, including:

• Setting up payment arrangements
• Allowing recipients to save their debit/credit card details for future use
• Leaving a tip
• And, more!

When an invoice is paid, I can have Square deposit the funds in my bank account during the regular cycling time. For example, if I get a paid invoice Tuesday, it’ll deposit Tuesday night, provided no holiday.

Or, I can do an instant transfer for an extra fee which pushes the deposit into my bank account instantly.

I use Square for billing various services:

• Square for consulting
• Square for social media management
• Square for sponsored posts
• Square for writing services and other services

Bottom Line

After analyzing the features and offerings of Square, it’s time to weigh the pros and cons to make an informed decision.

Pros and Cons

Pros

• Square offers a free point-of-sale app that works on both iOS and Android devices.
• Square offers an affordable fee structure, with no monthly fees, and no hidden costs.
• Square offers a range of features that are ideal for small online stores, including physical, digital, or subscription products.
• Square offers a website builder that is easy to use and offers a lot of customization options.
• Square has excellent customer support, with 24/7 phone and email support.

Cons

• Square’s fee structure can be more expensive for larger businesses.
• Square’s website builder is light on themes and customization options compared to other website builders.
• Square’s reporting and analytics could be more robust and offer more insights.

Final Verdict

Overall, Square is an excellent payment processing and point of sale platform for small businesses. It offers a range of features, including a free point-of-sale app, an affordable fee structure, and a website builder that is easy to use. However, it may not be the best option for larger businesses that require more robust reporting and analytics. Ultimately, the decision to use Square will depend on your business needs and budget.

Visit Square to join for free and get set up with their payment processing.