Accepting credit cards has usually been a hassle for many small businesses.
You have to set up complicated accounts for starters, with monthly fees and rental agreements for the card readers. Most of them are clunky at best and require you to tie up a phone line every time you run a card through them to accept a payment.
But now there’s a much better way. Square Up has just introduced a credit card reader called the Square that’s really amazing.
It works by plugging it into your iPhone’s headset jack. It also fits on an iPad, and there’s even one for an Android phone. Here’s how it works.
Just plug it onto the iPhone and run the free Square App, which you can download from iTunes. And yes, even the Square reader is free. You go to their website to sign up. You enter in your bank account number and some other basic information. Once you qualify, they send you the reader for free and you’re ready to go. It couldn’t be easier to set up.
Running the app first presents you with the Square “Take Payment” screen. All you do is run the credit card’s magnetic strip through the Square reader and then type in the amount you wish to charge the card. Then you hand over the iPhone or iPad and have them sign their name using their finger.
The last screen lets them input their email address or phone number. The Square system will email or text them their receipt of the transaction.
Logging onto the Square website gives you instant access to your account. You can see all of your detailed transactions history, track your daily deposits, even perform a refund if needed.
Fees are straightforward.
Square gets 2.75 percent on each transaction and there are no hidden fees of any kind.
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