Problem with Square Credit Card Processing
Square has been getting tremendous media coverage for the past few months. They now have a lot more competition but they are still getting the most press. The fact still remains that unless you are a small timer, square is not the product for you. There are some serious drawbacks to using square as far as the allowed processing amounts go, which are not listed but vaguely referenced in their terms of service. Basically if you process more than $100 a day or $1000 a month they may hold your funds for 30 days! Between that and the high rates if you are serious about accepting credit cards you are best off with a merchant service provider that offers low rates and no contracts and free software.
I would be a lot happier if I could find a terminal that plugs into iphone/android that I could issue to my field reps, and that works with existing merchant accounts. I would buy twenty of them tomorrow.
ReplyDeleteI find they hold monies far more than 30 days. And their support is non-existant. Stay away from Square. They are nothing but a problem company.
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