Point of Sale systems

[Mellow Yellow]

Is anyone using the Square system for receiving payments? Is there a limit to the size of the amount received?

If so, likes/dislikes. Know its not necessarily cheap 2.65% of collection, but it would save a ton of time hunting down people that owe.


https://squareup.com/ca?gclid=CjwKCAiAr_TQBRB5EiwAC_QCqyK7VXfrg7L_IG-zHjb3FemwefgkCOKmMW-jTvxFc3cIWNsJHrvmdRoCmogQAvD_BwE&pcrid=227564258082&pdv=c&pkw=square+inc&pmt=e

[IanGTCS]

My mom uses one for pottery sales. If your account is verified I don't believe there is a limit. It was really easy to set up and hasn't had any issues with it. Yes, there is a cost to it that is higher than a normal terminal.

If you aren't using it that often it is probably a good choice. If you plan to use it frequently (like multiple transactions per day monday to friday) it might not be the ideal choice.

[Stephen06GT]

Amsoil guy used the square the last time I purchased from him. Hopefully he will chime in or you can send him a PM.

[newbiestangowner]

just spoke to my new plumber- uses square, he really likes it so far if there is a limit he hasn't reached it. Also said that in 12 hrs he gets his money whereas some others hold it.

[92redragtop]

It's a good system/tool and you get paid quickly unless you go out of pattern. If you don't do large credit card transactions (debit is ok) and your sales on it are typically under $100K annually you probably won't trigger any thresholds in their back-end monitoring/AI system. If you do trigger then they'll slow down (ie. delay) your deposits for a while but that will be short term. You want chip-enabled for debit and for credit security because you'll be protected from chargebacks and fraud if your customers use chip+PIN to pay you (unless you know your customers but if you do custom work which is open to dispute you'll still carry some risk of dispute related chargebacks).

[Mellow Yellow]

Thanks for the responses.

I think I would be using it primarily to collect on the tax returns I do. Likely about $40k per year. Each transaction between $150 to $500. Some clients like to delay payment, others ask if I take debit or credit cards.

Should probably become technologicaly advanced! Lol

[92redragtop]

Thanks for the responses.

I think I would be using it primarily to collect on the tax returns I do. Likely about $40k per year. Each transaction between $150 to $500. Some clients like to delay payment, others ask if I take debit or credit cards.

Should probably become technologicaly advanced! Lol

You should be fine with that pattern. If you start doing $5K transactions they may flag that to investigate further. If you can offer the service and collect on the spot why offer no interest financing to those who would make you chase them down otherwise?