The Square terminal has become the tool of choice for many businesses. It is a simple and easy-to-use device that offers a variety of benefits to businesses. While it is a useful POS tool, it may only fit the needs of some businesses. Knowing other alternatives to Square terminals and how they can help your company is essential.
Pros and Cons of the Square Terminal
The Square terminal is a helpful all-in-one POS tool that allows your business to handle various payment tasks. Fortunately, the Square terminal is compact, allowing your staff to move it easily without worrying about making space for clunky hardware.
Additionally, the terminal works with both Wifi and Ethernet connections allowing you to choose the internet connection that works best for you.
You process a variety of transactions with the terminal. Magstripe, chip, and contactless transactions can all be quickly processed. The battery life is also great, as the terminal will be able to run all day.
Square’s terminal also easily connects with backend POS software. Another benefit of using this terminal is Square’s transparent pricing for in-person transactions.
The terminal is also designed to be easy to set up and use. This allows you to save time training staff on a complex piece of hardware and helps you avoid confusion.
By offering a wide variety of payment options, you can more easily provide your customers with their preferred payment method. Furthermore, the built-in screen can allow your customers to see exactly what they are being charged for. In addition, you can begin processing payments immediately once the terminal is set up.
While compact, it is not designed to be easily held in one hand. This makes it more suited to use on a counter. In addition, while the terminal has many valuable features, it is more limited than some hardware options out there. For example, you cannot record more comprehensive information about each sale if your business requires it for record keeping.
There is no option for the terminal to operate using cellular data. This makes it far from ideal for businesses that have to operate away from an internet connection. Square’s hardware can be more vulnerable to spills than other terminals available from other payment processors.
The terminal itself costs $399, but new merchants can get credit when they sign up for Square’s payment processing. There are also payment plans that you can choose from that allow you to pay for the terminal month to month.
Other Square Hardware
Square has various hardware options to choose from aside from the simple Square terminal. For example, their magstripe reader is compatible with both Apple and Android phones. While this is less secure than a chip reader, it enables you to accept payments with your phone. Their wireless reader also allows you to accept chip and contactless payments with a Bluetooth connection to your phone.
They also offer an iPad stand that allows you to collect contactless payments but you will still need to purchase the iPad to use it. Square’s register comes with a touch screen your staff can easily use and has a screen allowing customers to see details about their purchases.
Square’s Payment Processing
Square has more limited options when it comes to customization. If you need a specialized POS system, you will need to find another payment processor. Square charges 2.6% + 10 cents per transaction. This rate is not the most expensive in the industry. Some processors offer more competitive transaction rates.
One benefit of Square is that you do not have to sign a costly long-term contract. In addition, Square’s call-in customer service is available during standard business hours during the week. There are a variety of other hardware options that Square offers aside from the Square Terminal. Including a chip reader, iPad stand, and register. Each has its own strengths and weaknesses.
Square works on many types of devices, such as iOS and Android, but not on Windows. Merchants have reported that their Square accounts have been frozen or closed completely when Square believes some fraud has occurred. However, it is difficult for merchants to reach Square when this mix-up occurs.
Alternatives to the Square Terminal
Clover is an excellent option for a payment terminal that can easily be used. The Clover Flex fills the same role in your POS system as the Square Terminal but with a more durable design. It comes with all the valuable features of the Square terminal, but unlike Square’s option, you can easily hold it in your hand.
The Oracle Micros Workstation 3 allows you to accept various payment types easily. This includes magstripe, contactless, and chip payments. It is also very compact, allowing you to quickly move it where you need it. Oracle also has robust additional hardware that works well with restaurants that can complement the Workstation 3. This is a useful improvement on some of the limitations of the Square terminal.
Ingenico has a wide selection of card readers that you can choose from. They are secure and offer a wide variety of options for your company. This allows you to choose a more customized solution for your business as opposed to the standard Square terminal.
These include the Desk 3500, which allows you to process a variety of payments and will enable you to keep advanced reporting information. In addition, the iSMP4 is an incredibly compact and helpful tool that allows you to accept all payment types securely.
POS Hardware with Payline
With Payline, you have a wide variety of POS hardware to choose from. We offer terminals from a variety of companies, such as Clover, Oracle, and Ingenico. As such, we have many devices that meet and surpass the capabilities of a Square terminal. The hardware we offer is easy to use and manage. Additionally, unlike Square, we are committed to providing 24/7 customer support to ensure that you have service when you need it.
Much like Square’s payment processing, we offer you to pay month to month rather than signing a long-term contract. We do not charge cancellation fees if you are unsatisfied with our work. However, we are confident you will as we offer incredibly competitive pricing much lower than Square. Our in-person transaction rate is 0.4% + 10 cents per transaction. This way, your company can maximize your profits while having access to high-quality payment processing.