A Square Deal

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A Square Deal was Originally Posted on December 29, 2010 by

Faithful readers here know that I love a deal and pass the information along. My motto is “Never Pay Full Price”. Here a deal which may intest you.

As you may know, I have a website and accept credit cards and PayPal. Those charges are a bit high, yet a cost of doing business. I have found a credit card processor which has reasonable rates and allows you to card swipe for free.

When I bought my Droid, I was directed by a friend to SquareUp.Com. The application they have runs on Androids like: Motorola DROID and DROID X, HTC Nexus One, Droid Incredible, Evo, Desire, and Hero (with Android 2.x update), Samsung Galaxy S series, Intercept, LG Ally, Dell Streak. On the Apple side, it runs on: iPad, iPhone and the iPod touch (2G+).

You sign up, the company sends you a small dongle which plugs into your phone. You bring up the application and debit the customer, then swipe their card. The receipt can include a photo of the buyer, or seller or product, etc.

A typical use for this might be a swap meet or farmers market, where you need to debit cards but may not have a phone line or power cord. The money is deposited into your checking account soon thereafter.

There is no cost to sign up or to get your dongle, which comes in just a few days. The rates are: 2.75% + 15¢ for swiped transactions, 3.5% + 15¢ for keyed-in transactions. There are no activation, gateway, monthly, early termination, or hidden fees. Note that this service is not really for keyed-in (no card present) transactions. They allow that option in case your reader is not working or for emergency situations. You *may* get a better rate for card swipe elsewhere, but should remember that this service comes with no other fees. On my current credit card processor, they charge a minimum of $20 a month to have a connection to the processor from my shopping cart. A card swipe would be an extra fee.

So, if you want to accept credit cards and have a supported device, give them a try. http://squareup.com