Square Card Reader enables simple card transactions for entrepreneurs
Credit and debit card processing can be a daunting task to setup, until you find a solution like Square’s Card Reader. You may already be aware of Square’s headphone jack reader, the small white square that fits into a smartphone’s 3.5mm headphone jack. As smartphone companies updated their phones to get rid of the 3.5mm headphone back, and as card issuers introduced chip cards, Square has also introduced a brand new chip card + contactless payment reader. Still reasonably priced, Square can now get you ready to accept chip cards, contactless payments (like Apple Pay), and regular swipe cards—within a few hours.
Square charges a small fee per transaction, with no monthly retainer fees. For businesses with under $250,000 a year in transactions, each transaction with the card reader costs 2.6% + 10 cents. That means a transaction of $10 would cost you $0.36 to process with Square. You can carry your reader around with you wherever you go, and if you sell a service, then you can effectively pitch what you sell anywhere you get cell service. If your business scales above that $250,000 threshold, Square will negotiate an individual rate for your business.
The contactless and chip payment Square Reader costs $49.00, shipped free from Square or available in-store at retailers like Target and Walmart. The swipe Square Reader (the headphone jack reader) is free for your first reader, and $10 for a replacement. The contactless and chip reader comes with a headphone jack reader for free.
Square Reader connects to your phone or tablet with Bluetooth, and is seamless to connect. Once you create your Square account, download the Square app, and connect your reader simply through the Settings menu. As long as your smartphone has Bluetooth on, the Square app will automatically detect the reader, and begin pairing if the reader is in paring mode. Square’s website has an easy guide to help you get started.
Square also has an invoices product which lets you create and send invoices to customers, with the same account as the one you use with your Square Reader. Square Invoices gives your business the ability to sell products and services when you aren’t physically with your customer, like at a farmer’s market or art fair. Invoices are great for billing hours for a service that you provide, or a large wholesale order for a B2B client. Since Invoices is a part of the broader Square platform, all of your transactions will appear on a general transactions report, showing you how much business you get from each channel that you operate in.
