If you run a business of any size, then it’s likely you’ve heard of Square. However, it’s probably not as likely that you’ve made use of this new technology . . . yet. Square is rolling out some changes that they hope will attract new merchants. Here’s what you need to know about the changes Square is making in the hopes of winning the hearts of business owners:
What is Square?
Let’s start with the basics. Square is a credit card processing application that you can use from your smart phone. In addition to software that moves the data between your customers’ cards and your bank account, Square comes with a small piece of equipment that reads the magnetic strip on credit and debit cards. This equipment plugs into your smart phone’s USB port and is in the shape of–you guessed it–a square.
The Old Square.
Although Square was quick to catch on as a revolutionary new way for merchants to process payments (and thus conduct business), there have been some longstanding complaints about the Square technology–namely, the card reader. Merchants complain that the reader doesn’t work very well after it has been in use for a while, forcing them to extremes such as wrapping credit cards in wax paper before scanning, or even inserting the card numbers into the software manually. Additionally, the one-inch square swipers aren’t exactly professional looking, nor are they safe from thieves, who can easily pull them out and pocket them while the cashier isn’t looking.
Changes in Technology.
The makers of Square are responding to merchant complaints with the introduction of the “Square Stand.” This is a secure encasement for the iPad (the typical terminal used for Square payment processing) that encompasses a sturdier and more reliable card swiper and can be customized with a receipt printer, barcode scanner, and cash drawer.
Changes in Terms of Service.
Technological changes aren’t the only ways in which Square is changing to meet standards of modernity. Just recently, Square changed its terms of service, banning gun retailers from using the technology to sell firearms. As you know, the issue of guns is a hot one in today’s political climate; therefore, the media speculates that this new clause in the Square terms of service is really an appeal to merchants wanting stricter gun laws.
Square might have revolutionized credit card payment processing, but the crowd of merchants that make use of this technology have revolutionized Square. Look for these changes in the new Square product, and see what it can do for your business. And if square isn’t right for you, check out Moblized and the myriad of other options out there. You’ll find tons to choose from.
