Square: Credit Card Processing
- June 14, 2017
- Posted by: Quarles Business and Financial Strategists
- Category: Business Advice
“The Internet is becoming the town square for the global village of tomorrow.”
In the “2017 town square”, the basics remain the same – and payment still needs to be made for the goods.
While trawling the internet on a daily train commute to work, my colleague happened upon the “Square Reader” – a mobile debit and credit card reader that plugs into the standard headphone jack of your smartphone or tablet. It accepts card payments anywhere you do business, so long as you can get a signal.
A client just happened to call that day, with a problem – she was starting a small venture and needed to be able to accept credit card payments for sales, whilst out on the road. We didn’t know anything about the “square reader”, but all the “useless?’ internet trawling, had at least produced a lead to follow.
A few weeks later, the feedback from our client is that this was the best advice she has been given! So we decided to share this with you – just in case you need this facility as a trader in your “town square”. It also further justifies our continued internet trawling.
All the Things You Can Do With a Mobile Card Reader & POS
Make the most of your new mobile Square point-of-sale. A fully integrated point-of-sale system helps save you time and money (no more costly keying errors). And with the smallest and most mobile card reader available in the market, you can accept card payments anywhere with simplicity and ease, giving you more time to focus on growing your business.
Here are the seven key things you need to know about running your business with a mobile card reader and POS.
You can sell anywhere
Many of us nowadays have an Apple or Android smartphone or tablet device. And now all you need to run your business on-the-go is this device and a Square Reader. Plug Square Reader into your headphone jack and almost instantly you can accept debit and credit card payments anywhere your business takes you.
You get paid quickly
Your payments show up in your bank account in one to two business days, so you know what you’re getting paid and that you’ll get paid fast. Check out Square’s deposit schedule.
You can set your close-of-day time
Different businesses shut up shop at different times. If you’re a tradie, you probably start early and finish before 5 p.m. If you own a small wine bar, you open late and close around midnight. With Square’s flexible close-of-day feature, you can enter the closing time that works best for your bookkeeping. Learn how to adjust here.
You can give partial refunds
Say your customer wants to return just one or two items. Rather than getting caught up in multiple transactions, Square Point of Sale allows you to make a refund in your Dashboard or directly in the app — just enter the precise amount you’d like to refund. Customers won’t even need to take their card out of their wallet. Simple. Learn more about partial refunds.
Bust the queue
A busy shop is a good thing — more customers mean more sales. But meeting that extra demand at the point of sale can be hard, and a long line can turn away customers. Luckily, you can cut down the queue by grabbing an extra Square Reader, plugging it into a tablet or smartphone, and sending your employees out to take orders on the fly.
Speed up checkout
A faster checkout process allows you to sell to more customers. Because Square is an integrated point-of-sale and card payment reader, you’ll be processing transactions fast and avoiding any messy, manual keying errors that come with non-integrated card payment terminals. For applicable transactions under $35, you can also securely skip PIN entry to speed up checkout.
You can process cash too
Square Point of Sale doesn’t just allow you to accept credit and debit card payments. You can record your cash and any other transactions, too, to get a full view of every transaction your business is processing.