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Square Payment Processing Solution: Simple and Affordable
Accept every payment quickly, easily, and securely with Square’s point of sale system and Square reader for magstripe.
Whether you’re selling in person or online, Square can help you take all kinds of payments quickly and securely.
The point of sale system is simple for your employees to set up and keep track of your sales and is user-friendly.
Square’s free credit card reader works with the Point of Sale app to accept credit card payments on your smartphone or tablet.
What is a Payment Processing Solution?
A payment processing solution acts as an intermediary between a business and a customer.
You’ll need the following to use a payment processor like Square:
- A payment processing solution account
- A merchant account
- A payment page on your website
Working with the wrong payment processor could mean a less-than-seamless payment experience which can affect your company’s growth. Choose Square today.
How a Payment Processing Solution Works
Here’s how a payment processor facilitates a smooth transfer of funds:
- When a request comes in from the buyer, the payment processing solution authenticates the buyer’s payment details.
- The payment processing solution then encrypts the data so that third parties cannot view customer’s personal information.
- Once the payment details are verified, the payment processing solution then checks the availability of funds.
- If everything is in order, a funds transfer is initiated and the necessary amount is transferred to your merchant account.
- Both you and the customer will receive a notification on the fund’s transfer and also get notified if it fails.
Payment processing solutions are essential in non-cash transactions. Their network promotes an efficient flow of data between all parties involved in the transaction.
Square payment processing solution facilitates smooth, efficient, and secure payments, from authenticating to settling the transaction.
How to Choose the Right Payment Processing Solution
There are several critical features all great payment processing solutions must offer.
Whether you’re a startup or an established business, you want the following features in your payment processing solution.
Affordability
Using a payment processing solution comes at a cost, such as, cancellation fees, processing fees, assessment fees, interchange fees, and markup fees
It’s important to:
- Carry out proper research and compare the payment processing services different providers offer and the charges involved.
- Go for a payment processing solution that’s transparent with its fees to avoid surprises that would pose a financial challenge later.
Choose a payment processing solution with fees that fit your budget.
Evaluate how the charges will affect your profitability based on the value and volume of your transactions.
User-Friendliness
Simplicity is important in a payment processing solution. It translates to reliability, which positively impacts your reputation and operational efficiency.
Here’s what you should check:
- It should make it easy for you to accept payments online and offline, including global payments.
- The payment solution should be adaptable to processing payments under changing environments.
Also, ensure that the solution you choose is simple for the customers as well.
They shouldn’t have to take numerous confusing steps to initiate the payment or provide unnecessary details. It’ll create a negative experience.
Flexibility
The best payment processing solutions give small businesses the flexibility to broaden their horizons.
Go for a payment processing solution that:
- Provides customers with multiple ways to pay
- Is compatible with different operating systems
Providing customers with more options on how they shop and pay means you’ll not have to work with different payment systems to support various payment methods and devices.
Even if you don’t need these options now, over time, the situation could change, so plan ahead and choose the right solution.
Security
Online sales come with the threat of data breaches and fraud. A payment processing solution that prevents customers’ sensitive data from being exposed to cybercriminals is best.
You want to be on the lookout for features like:
- Data encryption, which prevents exposure of sensitive information during online transactions.
- PCI Compliance, which is a set of security requirements that aim to protect cardholder data.
If customers can trust you with their financial data, you can get more conversions.
Square offers all these essential features, and a lot more. Here are the features that make it a great payment processing solution.
Accept Multiple Types of Payments with Square
Use Square to take payments any way you want and manage your business effectively.
Accept payments in almost any form quickly, easily, affordably, and securely, including global payments.
Swipe or Dip
Swipe or dip your customers’ credit or debit card to Square’s powerful and portable terminal to capture their magnetic strip data and accept payments. It’s secure and reliable.
Tap
Enable your customers to make touch-free payments with Square’s powerful contactless reader. Accept contactless (NFC) cards, Apple Pay, and Google Pay easily.
Online Payments
Take payments from your online customers securely and reliably. Integrate your store with Square’s online payment solution or set up a free online store and start receiving payments.
Key-In
Customers don’t need to be physically present to complete a payment. With Square’s app, you can key in customers’ payment information manually or key it in through any browser.
Invoices
Use Square to send digital invoices, including estimates. Easily track the paid and unpaid invoices. You can give customers the flexibility to pay in four convenient and interest-free installments.
Appointments
Set up an all-in-one point-of-sale for booking that matches your type of business. Use Square to receive contactless payments, in-person payments, pre-payments, and more.
Running your business shouldn’t be a hassle. Transform the way you do business by working with the right payment processing solution.
Square Payments: Accept Every Payment Quickly, Easily, and Securely
Square’s integrated system includes Point of Sale equipment from card readers, terminals, stands, and more.
You can also effortlessly send professional invoices and estimates with real-time tracking, recurring billing, and powerful reporting.
Get Paid Fast, Every Time You Make a Sale
- Get your money in your bank account the next business day or instantly for a fee per transfer.
- Keep an eye on your cash flow with real-time updates about your sales and inventory.
- Spend your funds after a sale when you store them on a free Square business debit card.
Spend Less Time and Money on Your Payments
- Start taking payments with Square in minutes. No bank visits or merchant accounts needed.
- No statement fees, chargeback fees, or any other weird fees. You pay only when you make a sale.
- When payment disputes occur, their team of experts deals with the bank for you.
Keep Your, and Your Customers' Data Secure
- Security is engineered into our products from the ground up. Square keeps your data safe.
- Their systems constantly monitor for suspicious activity to help you avoid lost goods.
- Their tools help prevent the wrong people from accessing your account.
Here to Help You Succeed with Great Customer Service
- Their in-house phone support is available from 6 a.m. to 6 p.m. PT, or 24/7 on email.
- Search their Support Center from the point of sale 24/7, including tutorial videos.
- Connect with and learn from other sellers in their Seller Community.
Elevate your payment process today and grow your business with Square.
Square Point of Sale: Run the Business Your Customers Love
Give your customers a smooth time by selling and accepting payments wherever your customers are—in person, online, via phone, or out in the field.
Square makes it easy to provide a seamless payment experience.
It's Easy to Use
It’s simple to set up your point of sale and keep track of your sales. Your team members will have an even simpler time using it.
Treat Your Customers Like VIP
With fast checkout, automatically created customer profiles, and loyalty programs, every customer leaves happy.
Customize to Perfection
Adjust your point of sale to speed up your checkout, add locations and employees quickly add connect third-party apps that you already use.
Run Your Business in One Place
Square Point of Sale app gives you everything you need to manage your business, including real-time analytics and intuitive inventory management.
Make your business processes more efficient and improve your customer experience using Square.
Square Reader for Magstripe: Small Credit Card Reader, Big Possibilities
With Square, credit card processing has never been easier. Accept credit cards anywhere. Square’s free credit card reader works with the free Square Point of Sale app to let everyone accept payments on their smartphone or tablet.
Clear Pricing, Fast Transfers
Pay 2.6% + 10¢ per swipe for Visa, Mastercard, Discover, and American Express. Get your money as fast as the next business day.
Works with iOS and Android
With two versions of Square Reader for magstripe—one for a headset jack, the other a Lightning connector—you’re covered. Pick what works for you.
Works with Your Computer
Square Reader for Magstripe works with your computer, too. Take in-person credit card payments by adding Square Reader to your computer.
Set Up is Super-Fast
Get set up fast with no need to make commitments or get into long-term contracts. Your free Square Reader will come to your mail once you sign up.
Set up your account to access the user-friendly and powerful Square reader, Square Payments, Square Point of Sale, and more for your business.
Other Handy Features Offered by Square
Square is committed to meeting your payment processing needs and giving you peace of mind as you process both online and in-person payments.
Serious Security
Credit card information is encrypted at the moment of swipe. Square doesn’t store card data on your device after a payment has been processed.
No Signal, No Problem
Our credit card reader fits right in your pocket. Swipe payments in Offline Mode and pay the usual fee. No charging is necessary.
Send Receipts Digitally, or Print
Send receipts via email or text message, or connect a receipt printer to a tablet. Customers can leave feedback directly through their digital receipts.
Accept Chip Cards and Apple Pay
Connect Square Reader for contactless and chip wirelessly to your device to accept contactless payments like Apple Pay and Google Pay, and chip cards.
Take payments—tap, dip, and swipe—and print receipts, all in one with Square.
How Does Square Compare with Other Solutions?
Here’s a look at Square’s charges compared to other major players that offer a payment processing solution.
| CP= Card Present CNP=Card Not Present | Square | PayPal | Stripe |
|---|---|---|---|
| CP Swiped Rate | 2.60% | 2.70% | 2.70% |
| CP Swiped Per Transaction | $0.10 | $0.00 | $0.05 |
| CP Keyed Rate | 3.50% | 3.50% | 2.70% |
| CP Keyed Per Transaction | $0.15 | $0.15 | $0.05 |
| CNP Rate (E-commerce) | 2.90% | 2.90% | 2.90% |
| CNP Per Transaction | $0.30 | $0.30 | $0.30 |
*Based on approval for qualified merchants
Frequently Asked Questions
Working with a reliable payment processing solution like Square can improve your payment processing.
Your customers can make purchases in a few clicks and get multiple payment options.
Square makes the transaction process faster, more efficient, and more secure. You get the flexibility to receive payments from any location and customize it based on your payment processing needs.
The most popular modes of payment your online business will receive include:
- Credit and debit cards
- Electronic bank transfers
- E-payments
- E-wallets
- Digital payments
Work with a payment processing solution that supports these payment methods.
Payment experience refers to the customer’s experience as they complete a transaction. A negative payment experience involves things like:
- Being forced to pay through what’s available instead of having the flexibility to choose a payment method they’re comfortable with.
- Taking too many steps to complete a transaction.
- Providing unnecessary information when making a payment.
- Breach of sensitive information.
A payment gateway is the point at which your customers enter their payment details and have them verified. The payment processor is then responsible for executing the transaction.
The payment processing solution facilitates the secure exchange of payment data between the seller’s point of sale system, the issuing bank (bank holding the customer’s funds), and the acquiring bank (merchant’s bank account).
It’s the process through which online customers complete a purchase in an online store. It follows these steps:
- The customer selects an item and proceeds to checkout.
- The customer selects a payment method and fills in their payment data through your payment gateway.
- The payment processing solution encrypts the payment data for safe transmission to the customer’s bank for authorization.
- Once authorization is complete, the necessary funds are then sent to the merchant account and the online payment process is complete
Work with the Right Payment Process Solution
Start accepting payments through the right payment processing solution today.
Use Square to create a more efficient, fast, and secure transaction process that’ll make a positive difference in your business operations. With Square, you can provide your customers an amazing payment experience.