Why you possibly can belief TechRadar
We spend hours testing each services or products we assessment, so that you may be positive you’re shopping for the very best. Find out more about how we test.
Square POS, is a broadly used point-of-sale (POS) system supplier within the U.S. and past. Based in 2009, it was one of many pioneers of ubiquitous POS programs that small companies may simply arrange. Earlier than Sq. and its cohort, acquiring POS programs was a fancy course of many small companies didn’t hassle with.
Sq. simplified the method by making a card reader that customers may insert into their smartphone or pill’s headphone jack. It helped usher available in the market for moveable, user-friendly POS programs with clear charges. Since then, it has grow to be a dominant pressure within the world POS market, serving over 4 million companies.
I extensively examined Sq.’s point-of-sale options to supply an trustworthy assessment. Through the check, I centered on its options, pricing, user-friendliness, buyer assist, and different essential components. Learn on to study extra about Sq.’s POS options and in the event that they are perfect for your online business.
Sq. POS: Pricing
Sq. doesn’t cost a month-to-month payment or setup payment. As an alternative, it takes a reduce of each transaction processed on its POS system. I think about this pricing mannequin tradeoff for small companies with restricted funds for prior setup.
The transaction charges differ for various eventualities:
A buyer faucets, dips, or swipes their card in your card reader: 2.6% + 15¢ for every transaction.
A buyer buys an merchandise out of your on-line retailer with out swiping their card: 2.9% + 30¢ for every transaction.
You manually enter the client’s card particulars or use beforehand saved particulars: 3.5% + 15¢ per transaction.
Sq. supplies your first cell card reader totally free, however you will need to pay for any subsequent one. For those who want one other POS system apart from the cell card reader, you’ll must pay for it.
The Sq. Reader for contactless and chip funds prices $59.
The Sq. Stand and Sq. Kiosk price $149. Alternatively, you possibly can pay $14 monthly for 12 months.
The Sq. Terminal prices $299 or $27 monthly over 12 months.
The Sq. Register prices $799 or $39 monthly over 24 months.
Sq.’s processing charges are noticeably larger than these of many different POS programs I’ve examined. The tradeoff is that prospects don’t incur important overhead charges (setup and month-to-month charges). You may get a card reader totally free, and Sq. doesn’t have a month-to-month minimal requirement like different POS programs.
Notably, Sq. provides customized pricing for companies processing over $250,000 yearly. For those who fall below this class, you possibly can contact the gross sales staff and negotiate a cheaper deal.
Sq. POS: Setup
The simple setup course of is one factor I appreciated when testing Sq.’s POS programs. You don’t have to leap by means of many hoops to enroll and start receiving funds from prospects.
Step one is making a Sq. account, which you are able to do through the web site or cell app. Throughout registration, it’s important to present private particulars, together with your identify, deal with, telephone quantity, date of beginning, and final 4 digits of your Social Safety quantity (for U.S. residents). You additionally must add paperwork, together with proof of deal with and government-issued identification.
After registration, you will need to present banking particulars so Sq. can remit gross sales to your account. Verifying your checking account can take as much as every week, after which Sq. will ship a card reader.
As talked about, Sq. supplies your first cell card reader totally free. For those who want a extra superior system, you possibly can order it from the Sq. retailer and comply with the setup guide.
Together with your Sq. account and banking particulars verified, you possibly can entry your dashboard to configure cost choices. Consider this dashboard as your online business’s on-line headquarters. On it, you possibly can add workers, areas, and objects to your catalog.
To start receiving funds, you could obtain the Sq. Level of Sale app on an iOS or Android system. Signal into the app to see an inventory of all merchandise: you possibly can handle your beforehand added merchandise or add new ones.
If a buyer needs to pay for a product, they’ll swipe, dip, or faucet their card in your Sq. system to try this. I appreciated that the POS system had on-screen tutorials to information first-time customers.
After reviewing many POS programs, I can proudly attest that Sq. is among the best to arrange. You possibly can simply set it up your self, in contrast to some POS programs which might be so sophisticated that you just’ll want an exterior guide to deal with the preliminary setup.
Sq. POS: Options
Sq. POS options
Sq. provides a complete point-of-sale resolution for companies. I like that it’s a flexible device that works for varied forms of companies, from mom-and-pop retailers to eating places and retail shops.
The very best {hardware} to decide on is determined by your online business kind. Sq.’s card reader works with a smartphone. You possibly can plug it into your smartphone through a USB-C port or headphone jack. It’s appropriate for mom-and-pop or pop-up shops needing fast funds.
Nevertheless, a card reader received’t work for extra superior companies like eating places or comfort shops. As an alternative, you possibly can select the Sq. Stand or Kiosk, which works with an iPad. These gadgets allow you to retailer cost knowledge and manage your catalog so prospects can seamlessly place orders. I appreciated the minimalist, glossy look of those gadgets and the intuitive interface of Sq.’s software program.
It’s also possible to select Sq. Terminal or Register, essentially the most superior POS gadgets it provides. The Terminal is an all-in-one system that accepts card funds and prints receipts. Your prospects can swipe or faucet their playing cards to pay on this system, and you may instantly print a receipt. I appreciated the Terminal’s glossy look, though I additionally grumbled about its bulkiness.
The Register is Sq.’s most superior {hardware} each bodily and digitally. It has two screens – one for the client and one for you – and an interactive interface that makes promoting fulfilling.
Sq.’s POS system revolves extra round its software program than its {hardware}. I appreciated its intuitive system for cataloging merchandise, setting costs, logging orders, managing reductions, monitoring receipts, and extra.
With Sq.’s POS app, you possibly can simply create a product catalog with costs for every product and add-on. As soon as prospects select particular merchandise, the costs are routinely calculated (together with taxes and any relevant reductions), they usually will pay seamlessly.
I appreciated that Sq. organizes all transaction knowledge in a single place. The app permits you to monitor all of your gross sales and buyer particulars, resembling viewing every buyer and the overall quantity of products they’ve purchased from you. With buyer particulars simply retrievable, you possibly can pinpoint particular profiles to run customized campaigns for or supply reductions.
One other factor I admire about Sq. is its in depth reporting options. It provides an interactive overview of your full gross sales historical past. For instance, you possibly can view charts evaluating your gross sales from one yr to a different, a month to a different, a day, and even hours. You possibly can monitor all incoming and outgoing transactions to guage your progress prospects and backside line. Every part is accessible from the Sq. Level of Sale iOS or Android app.
Many firms cost massive bucks for software program much like Sq.’s, however not on this case. You should utilize it totally free, and Sq. makes cash from transaction charges.
Nevertheless, I didn’t discover Sq.’s POS system all rosy. For one, I feel its processing charges are too excessive for bigger companies. Small companies can tolerate a 2.6% to three.5% payment per transaction, however this provides up considerably for bigger companies. Some POS programs supply significantly better offers for bigger firms.
One other challenge I noticed is Sq.’s restricted customization and scalability. Customers are locked into its ready-made software program and might’t tweak many configurations. Integrating Sq. with different enterprise programs will also be difficult, though I feel it’s bettering on this finish.
To summarize, Sq. is an effective choice for small companies. Nevertheless, giant firms ought to think about different POS programs with decrease transaction charges and in depth customizability.
Sq. POS: The competitors
Sq. has many opponents providing sturdy POS programs. I’ve examined limitless POS programs and think about Stripe Terminal to be essentially the most becoming competitor. Stripe provides moveable card readers and all-in-one gadgets much like Sq.’s. There are not any setup or month-to-month charges, however transaction charges are equally excessive.
Nevertheless, Stripe outshines Sq. in customization and scalability. It’s a lot simpler to configure than Sq., and it provides wider integration choices. Stripe is an effective selection for small however fast-growing companies.
Sq. POS: Remaining verdict
Sq. is a perfect POS resolution for small companies. It supplies the {hardware} and software program wanted to just accept funds seamlessly. The setup is noticeably easy, and the interface is simple to know.
Sq. POS has some drawbacks, resembling its comparatively excessive transaction charges and restricted customization. These drawbacks primarily have an effect on giant companies, for which Sq. isn’t appropriate.