Got my Square Credit Card reader for iPad today

[Vic-Viper]

Square is a way for end users to accept credit card payments

http://www.youtube.com/watch?v=QSzsFAJAKHI

So far the app seems very strait forward. I noticed that it authorizes your card right after you swipe. No more prompt or buttons. Caught me off guard a little, but no big deal. Going to try it out more over the next couple days.

 

[KingPasta]

not available for the UK

 

[NeedtoSwipe]

Liar

How is this a Square for the iPad?

 

[elfxmilhouse]

How is this a Square for the iPad?

it's only available for the ipad.
https://squareup.com/itunes/download

 

[ClemTiger0408]

Ever since this was first announced I've wondered how this was any different than what the Apple Store has been using since the first iPod Touch came out?

 

[88Keys]

Awaiting my square. When did you sign up?

 

[boss1]

That's pretty interesting ... I'm going to research. Fees? Membership costs? Product Cost? App Cost? Security? so many questions.

 

[Roessnakhan]

Membership, device, and app are free.

Fees:
2.75% + 15¢ for swiped transactions
3.5% + 15¢ for keyed-in transactions

I can see the fees being pretty profitable for them. In the video they use the example of a $300 couch. That's $8.35 (swiped)/$10.65 (keyed-in) in fees.

Ever since this was first announced I've wondered how this was any different than what the Apple Store has been using since the first iPod Touch came out?

Thought Apple didn't use the swipe devices until the 2nd generation iPod touch.

 

[HXGuy]

This looks very cool but their rate for keyed in transactions is too high and the majority of the credit card transaction I run are keyed. I would have loved this otherwise though...although, since the device is free and no monthly fees plus no contract, maybe I can get one anyway for when I am out in the field and need to swipe a card.

 

[boss1]

I like the % fee which can be really good for small purchases but 2.5% on a large purchase may not be very appealing to some.


Theres a boat load of prohibited items on the list of things you cannot use this for , most if not all of them naturally illegal to sell regardless.


What concerns me about this service, not even owning it, is that the app allows you to enter a persons credit card number & info and transfer money to their accounts, without a swipe

I really don't think someone would get very far (out of jail) by doing so but it's bound to happen.

 

[CrAkD]

this thing is pretty sweet. I've been waiting for it to get released. ironic that it hit the ipad first when this thing was in development long before the ipad was even announced. It'll be good to take cards at our merch booth at shows without having to deal with paper and mailing stuff in. So now all we need is someone to create some kind of chained down ipad case so people dont run away with your ipad instead of signing it.

 

[HXGuy]

I like the % fee which can be really good for small purchases but 2.5% on a large purchase may not be very appealing to some.


Theres a boat load of prohibited items on the list of things you cannot use this for , most if not all of them naturally illegal to sell regardless.


What concerns me about this service, not even owning it, is that the app allows you to enter a persons credit card number & info and transfer money to their accounts, without a swipe

I really don't think someone would get very far (out of jail) by doing so but it's bound to happen.

Well, we paid about $4000 in credit card fees last year so the % really matters.

The second part you mentioned...don't they run some sort of check on you to sign up? Anyone can get this? That seems a bit dangerous.

With the credit card machine we have in the office, they ran a credit check and it took about a week for everything to go through.