Square

What is Square

Square is a complete business solution that helps merchants of all sizes to start, run, and grow their business. It was founded in 2009 by Jack Dorsey and Jim McKelvey and is headquartered in San Francisco, California. The core purpose of Square is to make commerce easy. It started with a small, white card reader that could be plugged into a smartphone, allowing anyone to accept credit card payments. Today, Square has expanded into a large ecosystem of software and hardware products. This includes point-of-sale (POS) systems, payment processing, online store builders, employee management tools, business banking services, and more. It is designed for various industries, including retail, food and beverage, beauty, and professional services.

Square Features

Square offers a wide range of features to manage different parts of a business:

• Point of Sale (POS) System: A powerful software that turns your device (smartphone, tablet, or Square's own hardware) into a checkout station. You can manage sales, inventory, and customer information from one place.
• Payment Processing: Securely accept all major credit cards, debit cards, and contactless payments like Apple Pay and Google Pay. Payments can be taken in-person, online, over the phone, or via invoices.
• Hardware Options: Square provides a variety of hardware, from the simple Magstripe reader to the all-in-one Square Register and the portable Square Terminal.
• Square Online: A tool to build a professional e-commerce website for free. You can sell products, offer services, and manage orders for online sales, in-store pickup, or local delivery.
• Invoicing: Create and send professional digital invoices to clients. Customers can pay online with a credit card. You can track which invoices are paid and which are outstanding.
• Staff Management: Tools to manage your team, including time tracking, payroll processing, and setting permissions for what staff can access in the POS system.
• Customer Management: A built-in directory to store customer information, track their purchase history, and collect feedback. This helps in building customer loyalty.
• Business Banking: Square offers business banking services, including a business checking account and a debit card, with no monthly fees. This helps to separate business and personal finances.

Square Pricing Plans

Square's pricing is mainly based on transaction fees, which makes it accessible for new businesses. There are different plans tailored to specific business types.

• Free Plan: This is the standard plan available for all businesses. It includes the core POS software, online store builder, and invoicing tools. You only pay a flat fee per transaction when you make a sale. There are no monthly subscription fees for these basic services.
• Plus Plans: For businesses that need more advanced features, Square offers Plus plans for its Retail, Restaurants, and Appointments products. These plans have a monthly subscription fee in addition to the standard transaction fees. They include advanced features like advanced inventory management, customer loyalty programs, and advanced booking tools.
• Premium Plans: Larger businesses with high sales volume can contact Square for custom pricing. These plans offer lower transaction rates and dedicated support, tailored to the specific needs of the enterprise.

Square Free Plan

Yes, Square offers a robust free plan. It is not a trial; you can use it for as long as you want. The free plan includes the Square Point of Sale app, a free online store, invoicing software, and customer management tools. There are no monthly fees for these services. The main cost is the processing fee for each transaction you make. This plan is ideal for new businesses, small merchants, and individuals who want to start selling without a large initial investment.

How to use Square

Getting started with Square is a simple process:

1. Sign Up: Create a free account on the Square website. You will need to provide some basic information about yourself and your business.
2. Set Up Your Account: Link your bank account so you can receive your funds. Configure your business details, such as your business name, location, and currency.
3. Get Hardware: You can order a free Magstripe card reader or purchase other hardware like a contactless and chip reader, a stand, or a full register.
4. Add Products or Services: In your Square Dashboard, add the items you sell. You can include names, prices, photos, and categories. This creates your item library.
5. Start Selling: Download the Square Point of Sale app on your smartphone or tablet. Log in, and you can start processing payments immediately. For online sales, use the Square Online builder to create your website and publish it.

Pros and Cons of Square

Pros:

• Easy to Use: The software and hardware are very user-friendly and quick to set up.
• Transparent Pricing: The flat-rate transaction fees are easy to understand, with no hidden costs.
• All-in-One Solution: It provides a complete ecosystem of tools for payments, online sales, inventory, staff, and more.
• Accessible: The free plan and free card reader make it very easy for small businesses to start accepting card payments.
• Versatile: Works for many different types of businesses, from coffee shops to retail stores and service providers.

Cons:

• Transaction Fees: For businesses with very high sales volume, the flat-rate fees can be more expensive than a traditional merchant account.
• Account Stability: Some users have reported issues with account holds or deactivation, often due to security reviews.
• Customer Support: While support is available, getting immediate help over the phone can sometimes be difficult.
• Limited for Complex Businesses: Very large or complex businesses might find the features, especially for inventory, to be too basic for their needs.

Square integrations

Square integrates with a wide range of third-party applications to extend its functionality. This helps businesses connect their sales data with other tools they use.

• QuickBooks Online and Xero: For accounting, you can automatically sync your daily sales data from Square to these platforms. This saves time on manual data entry and makes bookkeeping easier.
• Wix and BigCommerce: If you have an e-commerce store on these platforms, you can use Square as your payment processor.
• WooCommerce: There is a Square for WooCommerce extension that lets you connect your online store with Square to process payments and sync inventory.
• Mailchimp: Connect Square with Mailchimp to add customers to your mailing lists and send targeted email marketing campaigns based on their purchase history.
• GoDaddy: Use Square to process payments for your GoDaddy online store or appointment bookings.

Square Alternatives

• PayPal: A well-known payment processor that also offers POS solutions (PayPal Zettle). It is a strong competitor, especially for online payments, but its POS features are less comprehensive than Square's.
• Stripe: Primarily focused on online payment processing for e-commerce and internet businesses. Stripe is highly customizable for developers but offers less in-person hardware compared to Square.
• Shopify POS: A great alternative for retail businesses, especially those who already use Shopify for their online store. It offers deep integration between online and in-person sales and inventory.
• Clover: Offers a range of POS hardware and software solutions similar to Square. Clover is often sold through banks and traditional merchant service providers, and its pricing can be more complex.
• Toast: A direct competitor for restaurants, Toast provides a POS and management system specifically designed for the food and beverage industry, with features for online ordering, kitchen displays, and delivery management.

Square API

Yes, Square provides a comprehensive set of APIs for developers. The Square API allows you to integrate Square's payment and commerce services into your own applications. You can build custom POS solutions, e-commerce websites, and business management tools that work with the Square ecosystem.

To get an API key, you need to create a free developer account on the Square Developer website. From your developer dashboard, you can create an application and get your API credentials (Application ID and Access Token) for both sandbox (testing) and production (live) environments.

Here is a simple example using the Square Python SDK to create a payment:

import square.client

client = square.client.Client(
    access_token='YOUR_ACCESS_TOKEN',
    environment='sandbox'
)

result = client.payments.create_payment(
  body = {
    'source_id': 'cnon:card-nonce-ok',
    'amount_money': {
      'amount': 100,
      'currency': 'USD'
    },
    'idempotency_key': 'some-unique-key'
  }
)

if result.is_success():
  print(result.body)
elif result.is_error():
  print(result.errors)

Square Affiliate Program

Square has an affiliate program that allows partners to earn commissions by referring new businesses to Square. When a business you refer activates a Square account and starts processing payments, you earn a commission. The commission is typically a fixed amount for each new activated seller. To join, you need to apply through their partner portal, which is managed by an affiliate network like Impact Radius. Once your application is approved, you get access to referral links, banners, and a dashboard to track your referrals and earnings. Payments are usually made monthly once you reach a certain threshold. If you cannot find a direct link, it is often best to contact their partnership or marketing team for more information on becoming an affiliate or influencer.