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    13 Replies Latest reply on Jan 11, 2013 12:34 PM by thedavid

    Such a SQUARE deal !?

    amspcs Ranger

      Lots of small (and not so small) merchants are jumping onto the Square-Up payment processing bandwagon.  I'm betting most of them didn't read the Terms and Conditions.  I did.  Yikes!  Here's the report I published which I think pretty much illustrates the major significant differences between a true merchant account and an "aggregator" (aka 'money mover' a la Square, Paypal, and the like) most merchants are blissfully unaware of as they seek out so-called easier/cheaper/better processing solutions.  Please read it at

        • Re: Such a SQUARE deal !?

          Hi amspcs,


          Thank you for bring that to our attention. Many times it is a matter of having no other options. Paypal, for example, is one of the most common, used world wide, reputable, and convenient ways of sending and receiving payment for your merchandise. What other services can you recommend?



            • Re: Such a SQUARE deal !?
              amspcs Ranger

              Vince and Melinda, Good post Vince.  Just as in any other industry, some reps are better than others. Buyer beware. Melinda, there ARE options.  One just needs to make the effort to find them.  As with any other decision in life, one has two choices: (a) make it their business to do the homework necessary to get the knowledge to make an intelligent decision; or (b) seek the advise of a third party who has the knowledge you lack.  In the case of selecting payment processors (in this case, Square/Paypal vs a traditional merchant account), those who take neither path and instead make poor decisions based on mis-information, innuendo, rumor etc. are the ones who so often commit fiscal suicide by picking the wrong solution for the wrong reasons.  I'm not saying Square/Paypal etc is a poor solution for everyone--quite the contrary, for SOME merchant types Square/Paypal is absolutely the correct choice.  I AM saying that Square/Paypal is absolutely the wrong solution for many ill informed merchants who go that route for all the wrong reasons.

              • Re: Such a SQUARE deal !?
                Saul Sadowsky Newbie

                I Have utilized Intuit for the last few months now. Even though we typically operate on net terms utilizing purchase orders. Many of the fortune 500's give there employees credit cards to utilize. Being that all of these CC transactions are out of state or the country, Intuit charges a higher fee for not swiping the physical card in fact they just announced today that as of Nov 1 the fee will go up .5%   We have no issues any fees, we just make our customers aware of the fees and charge it to the customer. We haven't had one customer complain yet.  

              • Re: Such a SQUARE deal !?
                cottageowner Wayfarer

                I signed up with Square a while back, but I've never used them.  I use Intuit because I use QuickBooks Pro.  However, in my business, I key in the credit card each month for my clients as they are out of state and I can't swipe their cards.  Because of this, I am charged more for each transaction.  I think this is so unfair.  I was thinking about using Bank of America's merchant services (I've banked with them...both business and personal...all my life) and they actually called me before I called them.  Turns out, it was just a call to feel me out about using them.  I told the gal I was interested and she set up a time for the merchant expert to call me, but he didn't.  I was very disappointed.  I think because I don't do thousands each month in merchant charges that they decided I wasn't worth talking to.  I just wish I could find a bank or company that is legit that doesn't penalize me for keying in the customers info.  Intuit has been fine as far as getting my transactions processed, and I'm happy with them.  Again, just wish it wasn't so expensive.

                • Re: Such a SQUARE deal !?
                  barrilles Wayfarer

                  I did read the T&C and I did sign up with Square.  Why? Because the fees are incredible compared to the traditional 'true merchant account'.   I have had Square for over a year and love it.  Free reader, reasonable transaction fee, no contracts, no rentals.   A big move into the 21st century.  Yes there are protections they threw into their contract. Yes I can't sell to off shore entities.  But man, oh, man the way it made my very small business able to take a variety of credit cards has been nothing but very helpful to business and my customers.  I am sleeping just fine.

                  • Re: Such a SQUARE deal !?
                    jameschiam Adventurer

                    There are many processors in the market. If your monthly transaction is lower than $2,000 you can use Square or Paypal not otherwise.  The normal so call traditional merchant account is cheaper and easy to managed.  

                    • Re: Such a SQUARE deal !?
                      thedavid Adventurer

                      I own a merchant services wholesale in NV, I won't post the name or anything since I am not here to solicit business. I couldn't agree more with amspcs that square is horrible for most businesses. True,I have turned customers (with very small volumes) down and told them to go get a square account in the past. I have service fees, you've got to if you work with a bank, banks have huge overhead costs they pass them down to us... But as it was mentioned Square is aggregator and not a true credit card processor. The only reason in my mind one would get a square account is to be able to swipe a card and process tips ( tips in my mind are the only advantage of square) Swiping cards should first of all reduce your rates then protect you form chargebacks. But Square's rates are HORRIBLE in the first place, they charge a 2.75% for swiped transactions, whereas wholesalers like us charge that much for keyed in transactions...!  A swiped transaction can be at least a whole 100 basis points less! To be honest they are all the same be that Square, Intuit, Paypal any of those large players are expensive. The best thing for merchants is to go online and do some rate shopping on their own, I guarantee you you will find companies that are less expensive and provide better service. I mean you gotta hand it Jack Dorsey, he came up with twitter one on the top 10 sites in the world, then he invented square, then, to increase traffic to twitter, moved square's customer service to twitter ! Genius!!! Not very convenient for customers though...

                      Dave G

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