About Square POS

Square Point of Sales goes back to 2009 when they were a small startup co-founded by Jack Dorsey of Twitter. They came up with a straightforward solution for merchants who want to accept payments on mobile devices. Square revolutionized the POS industry when it released its first product over a decade ago. They have since produced more modern software and hardware that help empower small to medium-sized businesses.

A square is a popular option for small to medium-sized businesses because of the flat structure for transaction fees and they do not charge a monthly fee for their basic plan.

Products and Services

Square’s POS offering was the Square reader which needed to be inserted into a smartphone or tablet through the headphone jack. This connection allowed merchants to take payments on a mobile device through an app. Recently, Square has introduced a self-service feature for Square Online sellers in the food and beverage industry.

Square users will need to download the Point of Sale app from Google Play Store or Apple App Store. Once the mobile device has the Square POS app, merchants can sign in to their store and access the products they set up on the Dashboard.

The hardware from Square POS handles every base related to taking payments and processing them.

• Square Register: The Register is a top-shelf device with its own customer display. It is an ideal solution for businesses that need a seamless point of sale and payment terminal. The Register lets merchants accept Magstripe, chip cards, Google Pay, Apple Pay, e-wallets, and other payment methods. This costs $799 or $39 monthly for 12 months and comes with pre-installed POS software.

• Square Terminal: The Terminal enables merchants to accept payments and print receipts with a compact device. It’s the latest device offered by Square which features a magstripe reader, chip reader, built-in display, and receipt printer. This costs $299 or $27 monthly for 12 months.

• Square Reader for Magstripe: The magstripe reader comes free when you sign up with Square. This provides essential features to get businesses started and is also handy when you want to accept payments on the go. Each additional Reader for Magstripe costs $10.

• Square Reader for Chip and Contactless: If you want to accept payments via Apple Pay or Google Pay, this is the reader your business needs. The device starts at $49 and has proven to be incredibly useful post-pandemic where contactless transactions continue to increase. The charging dock for the reader will set you back another $66.

• Square Stand for Chip and Contactless: The Stand is connected to an iPad to convert the device into a checkout station that can be placed anywhere in the store. The stand costs $14 a ninth for 12 months or $149. This comes with a Square Reader for magstripe and Reader for chip and contactless.

Several accessories are also offered to enhance the service such as barcode readers, cash drawers, scales, and printers.

Square POS Features

Square offers an impressive and versatile lineup of features that caters to a wide range of industries. Beyond the core functionalities available in Square POS, users can integrate supplementary features that synchronize seamlessly. These optional features include email marketing tools, loyalty programs, payroll management, and even the choice to set up an online store.

Square Appointments

Businesses with 2 to 5 employees are charged $50 a month. For businesses with 6 to 10 employees, the monthly fee becomes $90. Individuals can access Square Appointments for free.

Square for Retail

Square for Retail’s free version is quite robust with a variety of functions such as purchase and vendor management. Square offers three plans for Retail – Free, Plus, and Premium. Paid plans are offered starting at $60 for the first location and $40 for the subsequent establishments. In-person payments have a 2.5% + 10c transaction fee while online payments are charged 2.9% + 30c.

Card on File

Card on File is a cool feature that lets users securely and safely store their credit card details. This is useful for regular customers who want to avoid swiping their cards for every transaction. It remains PCI compliant because the company hosts and secures the customer’s data. This feature is also compatible with Square Invoices. Using this feature with Invoices does come with an extra cost.

Offline Mode

Square POS can operate offline, a feature comparable to more complex systems such as NCR Silver POS. Small vendors can appreciate this feature especially if they are located in areas with limited wifi connection such as festivals or more remote locations.

Virtual Terminal

The Virtual Terminal allows vendors to input credit card payments on a web browser from any device inter-connected. Retailers would be required to pay the processing fee that they would normally pay. The virtual terminal can also be utilized to save card data for recurrent customers so they don’t need to re-enter their payment details.

Square Card

This debit card from MasterCard is made for merchants who need to access their funds immediately. There is no need for a bank transfer; the card can be used online, in-store, and ATMs. there is a 2.75% automatic discount if you use the card to shop at other Square vendors.

Pricing

Square sets itself apart from its competitors by not imposing any chargeback fees. In contrast to numerous payment processing providers that charge merchants for any customer disputes or reversed credit or debit transactions, Square refrains from such fees.

Monthly Fees

Plan	Price
Free Square POS, Restaurant, Retail, and Appointments	$0
Square Appointments Plus	$29
Square Restaurant and Retail Plus	$60
Square Appointments Premium	$69

Hardware

Type of Hardware	Price
Square magstripe-only card reader	$0; $10 for an additional unit
Square Reader for chip and contactless	$49
Square Stand iPad POS or Square Stand Mount	$149
Square Register	$799
Stands, cash drawers, printers, and card readers bundles	$659 – $1479

Payment Processing Fees

Type of Transaction	Fee
In-person	2.6% + 10 cents
Online	2.9% + 10 cents
Manual Keyed-In	3.5% + 15 cents
Invoice	3.3% + 30 cents

 

Customer Support

Vendors who need help with their POS systems or their plans can reach out to the support team via chat, email, and phone support. Phone lines are open Mondays to Fridays from 6 AM to 6 PM PT. There is also an online resource center where you can find articles on products, guides on getting started, and other trending topics.

Conclusion

Among the POS providers in this market, Square stands out as one of the few that offers a free version of its POS system. This free option comes packed with a decent suite of features and capabilities, effectively catering to the needs of vendors. The free version includes core functionalities like offline mode for seamless payment acceptance without Wi-Fi connectivity, sales tracking, and reporting, and the flexibility to customize the user interface. For businesses that do not need advanced POS features, Square’s free POS system comes out as a practical choice.