Square

[Donnie]

This seems pretty reasonable.. Just signed up for the free card reader and downloaded the app.

Square presents: Fees

https://squareup.com/

[Fresh Baked Printing]

I just signed up. Seems too easy. Whats the catch?
Looks like it was started by the Twitter founder?

[Donnie]

 If you stop and think about it, totally brilliant. How fast can you tell your current blood sucking credit card processing co. to go piss up a rope.

[Screened Gear]

Very cool. I will sign up just to have it as an option. There are alot of payment gateways that are cheaper.

[Fresh Baked Printing]

I like the no monthly fee.

[jsheridan]

and I thought my Credit union had good merchant rates 

[Binkspot]

We have been using it for about two months now and has worked flawlessly. The nice thing about it we have one we share. If someone goes to do a delivery they can talk it with them, charge the customer on the spot. We did a charity event last month and were able to walk down the street selling shirts and taking donations with credit cards. No papers to sign and receipt emailed directly to customer.

[mk162]

2.75 is a lot.  Sorry guys, it is.  Even with "flat rate billing" from my company, it is 2.25.  I am on a 3 tier right now and average less than that.

[Fresh Baked Printing]

Who do you use? Can you explain the tier thing?
You gotta admit though, that Square has some pretty cool features that are pretty attractive to the iPhone/Android generation.

[mk162]

I think it's called first data.  They are partnered with Sam's Club...so they can't get away with as much crap as some other guys because I think most of their business comes from Sam's and they don't want to tick them off.

the tiers work as Qualified, Mid-Qualified and Non-Qualified.  Qualified transactions are your standard cards and debit cards.  Mid is some rewards cards, trans where info is missing etc.  Non is p-cards, keyed cards and really good rewards cards.  The old company I was using was putting everything in this category and it was running about 3% average.

You want to be on tiered billing if you do a lot of swipes and consumer cards.  The flat rate or B2B is better for p-cards, government cards, and taking a lot of rewards cards.  First Data audits your account to see if you are on the right program.  So far I like them a lot.  They also have an office about 2 miles from me.  So I can meet with the salespeople in person.

[whitewater]

I just received it in the mail on saturday.
I don't really do a lot of credit cards so I think it will be better than who I have now.

The sticking point I saw when reading was the limit is $1000.00 per week. That is what you receive....now you can have as much as you want in sales but are only guaranteed the $1000.00 per week then the rest of your sales within 30 days.

Has anyone experienced this yet?  I'm small and really don't want my money tied up that long.

Did you call them to get etrms changed?

[Fresh Baked Printing]

I just received it in the mail on saturday.
I don't really do a lot of credit cards so I think it will be better than who I have now.

The sticking point I saw when reading was the limit is $1000.00 per week. That is what you receive....now you can have as much as you want in sales but are only guaranteed the $1000.00 per week then the rest of your sales within 30 days.

Has anyone experienced this yet?  I'm small and really don't want my money tied up that long.

Did you call them to get etrms changed?

I read it as that limit is for NEW customers. I couldn't readily find what defined how long a customer is considered new.
I also couldn't find how long the deposit takes.  When using PayPal, those deposits take up to a week. Ug.

[Donnie]

I guess it is where you stand in the "credit card" volume. 2.75 may seem like a lot if you are running a butt load of transactions but, if you are a small volume merchant, once you figure in the monthly fees and every other thing they nickel and dime you with, it is actually quite reasonable. Plus, I am quite taken with the versatility of this system.

[mk162]

I think that is where it shines, is with the whole system, do us it wouldn't work and I would be better off with a traditional system.  I also range anywhere from $5K-$20K in CCs per month.  So a 5% difference is HUGE...about $250-$1,000 huge.

[ebscreen]

My only question is if we still get stuck with paying the rewards?

I hate that s***. Everyone that every gloats about their damn rewards
gets told who pays it. This merchant side of credit needs to get regulated
real effing quick.