2011
Accepting credit card payments has traditionally been a difficult and expensive proposition for small business owners, requiring merchant accounts, lengthy contracts, crazy monthly fees, and specialized hardware. While it is certainly possible to circumvent the merchant account maze by using services like PayPal, lacking the ability to process plastic may be losing you potential customers, not to mention slowing down your receivables. Fortunately, a new service called “Square” has made it simple and cost effective to accept credit cards using your iPad, iPhone or Android smartphone.
Signing up for Square is free (and super easy), as is the card scanning widget they provide. And I won’t lie — it’s kind of cute. As soon as you insert the card reader into the audio-input jack of your device and download the free app, you are ready to start processing credit card payments. You will only incur fees when a card is charged. Square charges a flat 15¢ per transaction plus 2.75% for swiped (in-person) transactions or 3.5% for keyed-in (over the phone/fax/email transactions). Traditional card services typically charge about 30¢ plus 2.9%, so these rates are highly competitive, especially if the majority of your sales are processed in-person.
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I’ll admit it, I loathed my BlackBerry Storm the first few days I had it. It appeared to be the biggest time sink and simple things I did before seemed way more complicated. This was supposed to make my life easier! But like any relationship worth having, I just needed to start finding out what made it tick.





