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Do The Math! Or End Up Like This Guy.


Products like Virtual Merchant Mobile and talech are the real innovators when it comes to mobile payments, don't sign up for Square and end up like this guy (or the rest of their disgruntled customers.)

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You forgot to mention: 
1. Square charges a flat rate for swiped and nonswiped cards with no additional swipe fees, no per transaction fee, no admin fee, no pci compliance fees, no terminal rental fee, no application fee. 
2. What does your company charge for these fees?
Posted @ Saturday, March 02, 2013 8:03 AM by A Merchant
I agree with the previous comment. This is misleading. There is a break even point where even with monthly fees a regular merchant account makes more sense than square, but for unfortunately for most lower volume merchants, square is cheaper.
Posted @ Saturday, March 02, 2013 8:25 AM by Jonathan
Square is garbage, they hold your money, have no customer service or support, if you have a problem it take a week or so for them to answer your emails, overall its a horrible experience
Posted @ Sunday, March 03, 2013 10:13 PM by Marko
There are pro's and cons to Square.  
Pro #1 a flat 2.75% for all cards. (Visa, MC, Amex, Discover as it does not matter if it is a qualified or non qualified card) 
Pro #2 No monthly fee, statement fee, monthly minimuns. No annual fee or any other fees. (This is a great benefit to the small business owner.) 
Pro #3 Easy to qualify.  
Pro #4 100% of funds deposited 2 banking days later. This can be arranged at the time of set up so they do not hold any of your funds longer that the 48 hours. 
Con #1 No live customer service. 
Con #2 All Customer service is done by twitter and / or email with a 24 hour turn around time. 
Con #3 They deposit funds to your bank account less the 2.75% fee rather than deposit 100% then take out the fee. This makes it hard to balance your bookkeeping records. 
Con #4 Their "on app" records do not match with their "on line" records as they do not show the "Batch"  
Over all they were a good fit for my company in the beginning as they were the only company in their nitch. But I am now leaving them for another company that has the 24/7 customer service along with the exact same fee structure.  
In this day and age custome service is a must and they just do not have any.
Posted @ Tuesday, March 05, 2013 7:40 PM by tom
You forgot 
Con #5 If you do over 1k a week they will hold your money for a certain period of time 
Con #6 Their dongle/swiper is a piece of garbage,it didn't work half of the time
Posted @ Tuesday, March 05, 2013 7:53 PM by Marko
Great dialogue! Just to clarify for everyone, processors providing honest services don’t charge excessive fees like the ones mentioned in the first comment. If you are a payment processor charging these kinds of fees or a business paying them, I can see how you would think Square is a good deal. I can agree that for a very, very, very small volume merchant (processing less than $1,250 per week) there COULD be a price break using Square – but then you have a hobby not a business. And if you have any intentions of growing your business (why would you not?) you are asking for trouble and to pay more in swipe fees than necessary by using Square. 
But dovetailing off what was already said, Square obviously cuts corners when it comes to customer service, which is a BIG problem when you are handling people’s money. Not to mention, when they are holding money arbitrarily, often thousands of dollars and their best recommendation is to send them a Tweet.  
Posted @ Wednesday, March 06, 2013 12:40 PM by Rachida Essadiq
Posted @ Wednesday, March 06, 2013 12:46 PM by Marko
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