posted on March 26, 2011 11:06:17 AM new
I heard about this about 8 months ago, but demand exceeded supply for the attachment, and I forgot about it altogether since I didn't have a need. yesterday I was at a local store buying a gift. I paid with my card.
The business owner processed my payment on his ipad using a tiny "square" attachment that has a magnetic card reader built in. I signed my name with my finger on the ipad screen, and had it automatically send my receipt to my email, though I could also have it sent via text to my phone.
This product is called, "SQUARE". I signed up yesterday, and will get my free "square" attachment for my Android phone in a few weeks. I can process payments for a little less than Paypal. This is great for trade shows, traveling, and if I start doing contract work. I can process a card on the go.
It can be used on Android phones, iPhones and iPads... and it is free to sign up and get the free "square" dongle.
posted on March 26, 2011 06:56:53 PM new
I haven't been in a Mac Store... EVER. Yesterday was my first experience with Square and it was great. I read an article that compared Square to Paypal. It was interesting because they gave kudos to Paypal for carving the way for Square. They said most people are much more comfortable making payments using Square because they have had enough time using Paypal to trust this type of system.
posted on March 27, 2011 07:53:48 AM new
Is this some new payment which bypass Visa and MC?
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There is no 'Global savings glut',only wild horses and loose bankers.
posted on March 27, 2011 09:11:08 AM new
here is the website-
https://squareup.com/
It sounds like Paypal,you swipe the credit card (US issued MC/VISA/AMEX) and the fee is 2.75% ,fund will be deposited in your bank account .
If you key the cc data manually,then fee would be 15 cents transaction plus 3.5% discount fee.
You cannot use it to accept transactions for adult content ,bankruptcy lawyer,illegal activities and buying drug online and more!
You must link your Square account with your US bank account providing your SS #,BIRTHDATE,they dont send you a check,just direct deposit only.
Oh,they dont report to IRS,but they could do so in the future
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There is no 'Global savings glut',only wild horses and loose bankers.
[ edited by hwahwa on Mar 27, 2011 09:15 AM ]
posted on March 27, 2011 10:44:06 AM new
well,it is a little cheaper than Paypal.
Do I qualify,I dont know,lets find out!
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There is no 'Global savings glut',only wild horses and loose bankers.
posted on March 28, 2011 07:36:22 AM new
Just after reading this thread, I picked up my copy of St. Louis Magazine and lo and behold there was a like 5 page article about Jim McKelvey; one of the founders of Square. Interesting read.
posted on March 28, 2011 09:19:40 AM new
What happens in a chargeback and the seller lost?
Can it dip into his bank account like merchant account provider can/I know Paypal cannot.
If it can but there is no money in his bank account or he closed his bank account,what happens?
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There is no 'Global savings glut',only wild horses and loose bankers.
posted on March 28, 2011 09:26:37 AM new
Chargebacks are handled the same as any other processor. It is up to the merchant to make sure they are conducting safe transactions and identifying the cardholder appropriately.
If a merchant has any doubts, they can always decline accepting a card. A customer can easily decline using a card to make payment and instead choose to pay with cash.
I always prefer cash because it costs me nothing to deposit cash. Obviously, there is risks involved in handling cash... but again, if you are careful you shouldn't have problems.
posted on March 28, 2011 09:55:09 AM new
Shag,
my question deals with post sale situation-a chargeback,not pre sale !
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There is no 'Global savings glut',only wild horses and loose bankers.
posted on March 28, 2011 10:12:05 AM new
hwa- how does square have more work to do?
my comment was focused on how a merchant or customer's pre-sale decisions can avoid problems after the transaction.
if a merchant has any doubts, they can decline accepting a credit card... avoiding a possible chargeback.
if a buyer has any doubts about a merchant or credit card processing, they can pay in cash or walk away... avoiding any post sale problems.
this is no different than any other merchant processing service. there are inherent risks involved in every single transaction for the merchant, the customer, the processor, the bank, etc.
A longtime close friend of mine is in Japan. He wants to buy something that I created. I sent him an invoice through Paypal. Even though we have known each other for 20 years, were roommates in college and good friends, he still chooses to send payment by mail vs. online. Not because he doesn't trust me, but because he doesn't trust online payment systems. He is taking pre-sale preventative measures to avoid problems after the fact.
posted on March 28, 2011 12:05:39 PM new
Like I said,Paypal is not a merchant account provider,neither is Square.
Square will find out what PAYPAL has found out.
Go to its website and read the Questions and Answers!
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There is no 'Global savings glut',only wild horses and loose bankers.
posted on March 29, 2011 10:32:06 AM new
I hopped over to the ebay message boards trying to find out more about Square;specifically if I could bypass the Pay Pal requirement and accept credit cards. Here are some questions that one nice ebayer responded with. I don't have any answers.
1. Can you set it up properly so that it works according to the set-up instructions for merchant accounts that Ebay has?
2. If you cannot go through Ebay's Checkout how will buyers get all the necessary info to you so you can manually enter it?
3. What will happen to this when Ebay ultimately goes totally Shopping Cart?
