iPhone Credit Card Processing Review for Square
We downloaded the Square app today for iPhone Credit Card Processing to take a look and see what the Buzz is all about.
What we learned is that they give you the dongle card reader free for iPhone Credit Card Processing, which is pretty cool as we love the device they offer BUT according to most of the reviews it seems like most folks haven’t received their reader for iPhone Credit Card Processing.
Surprising Rate for iPhone Credit Card Processing
We were a bit surprised by how high the rate is for card present sales – meaning the cards you swipe. Especially for iPhone Credit Card Processing.
The point of being able to swipe a card is to qualify for a low rate yet they’re charging 2.75% and $0.25 per transaction for iPhone Credit Card Processing, which is off the charts considering that you can get card present rates between 1.33% to 1.69%
If you manually key in an order – meaning you don’t swipe a card – you’d pay 3.5% and $0.25 per transaction on iPhone Credit Card Processing. Again this rate is off the charts as its higher than the 2.19% most processors charge and higher than PayPal, which is typically 3%
It seems as though the appeal of this product for iPhone Credit Card Processing is that it’s “free” but we all know you get what you pay for.
At the end of the day, by signing on with Square for iPhone Credit Card Processing, you’re applying for a “merchant account” through Square’s processing service BUT you’re limited to only being able to process $100 per day on iPhone Credit Card Processing!
In our opinion, hardly enough for a legitimate business to operate and use iPhone Credit Card Processing.
Better Options for iPhone Credit Card Processing
If anyone is thinking about this solution for iPhone Credit Card Processing, we think in the end, it would be best to go with a conventional merchant account for around $19.95 per month and have unlimited freedom for your iPhone Credit Card Processing at a far lower rate.
Just download an iPhone app for $0.99 and you’ll get lower rates and fewer restrictions on iPhone Credit Card Processing.
Well, personally, I am very satisfied with my account, card swipe (which came exactly when they said it would), the range of cards I can accept (which my other merchant accounts did not),bI have not experienced a limit on how much I can accept, and, have I mentioned the speed that the money is transferred to my account! We do not do a high volume on a day to day basis but, when we do…it is fast and furious at the Market. Our customers love the fact that they receive their email receipt so quickly…often before we finish speaking!! Thank you for this great app and great service!!!
Square has a lot of failing equipment issues. The rate is extremely high and they will hold some of your money for 30 days before depositing it. Give them high marks for marketing though. They make people believe they have the simple easy way. The truth is Square is the worst deal out there.
Roger Whitfield
Capital Bankcard