Being an independent retailer myself, news of Square, a credit card reader that plugs into your iPhone or iPad, was an exciting prospect. I could do away with the hassle of dealing with/renting debit machines. I could accept payment anywhere, at any time!
Twitter creator, Jack Dorsey, is the CEO behind this payment utility and not a moment too soon. These days fewer people are carrying cash which makes it necessary to accept debit and credit cards to maximize your sales. If you send people away to get cash, they may never come back. Square makes it so easy, competitive processing fees and no monthly rental – both the app and the reader are free! It also has the feature to send email or SMS receipts to the customer and a photo identification system for security. And for those who think the white plastic Square is too drab – Vivienne Tam has designed a chic version she calls the “Double Happiness Square”
Sounds great, sign me up! But, not so fast. The catch for me is that it’s only available to people with a US bank account and address – Nooooooo. Hopefully the success of Square will broaden it’s service over the border so that I can take advantage of this awesome utility.