Square, the sleek and innovative payment processing company that has revolutionized how we do business. From its signature white card reader to its intuitive software interface, Square has quickly become a household name for small business owners everywhere. But what exactly sets Square apart from its competitors? In this comprehensive brand review, we'll take a deep dive into all things Square – exploring everything from its unique features to its customer service reputation. Whether you're already a loyal user or just curious about this game-changing platform, don't miss out on this essential guide to one of the most exciting brands in finance today!
Brand Overview
Square is a financial technology company based in San Francisco, California. The company was founded in 2009 by Jack Dorsey and Jim McKelvey, and is known for its popular mobile payment platform, also called Square. The Square payment platform allows individuals and businesses to accept credit and debit card payments using a small, square-shaped card reader that plugs into a mobile device. Square also offers other financial services, such as small business loans and cash advances, as well as point-of-sale software and hardware for businesses of all sizes.
Square's mission is to empower small businesses and entrepreneurs by making it easier for them to accept payments and manage their finances. The company has grown rapidly in recent years and is now one of the most recognizable names in the fintech industry.
Solution sets for every business type
Solutions for Retail Business
Square offers a comprehensive point-of-sale system for retail businesses, which includes a range of hardware options such as a cash register, barcode scanner, and receipt printer. In addition, Square's software helps businesses manage inventory, sales, and customer data. This includes features like inventory management, sales reporting, and customer relationship management (CRM) tools. Retail businesses can also accept a range of payment types with Square, including credit and debit cards, contactless payments like Apple Pay and Google Pay, and even gift cards.
| Products for Retail Business | Description |
| Square Point of Sale | Basic POS app for retail businesses with item and inventory management, sales tracking, and basic reporting. |
| Square for Retail | Retail-specific POS system that includes features like inventory management, customer relationship management, and sales reporting. |
| Square Online Store | Online store builder with integrated payment processing and inventory management. |
| Square Terminal | All-in-one credit card terminal that accepts chip and PIN cards, contactless payments, and magstripe cards. |
| Square Stand | iPad stand with a built-in card reader that can be used as a POS system for retail businesses. |
Solutions for Restaurants
Square has a separate point-of-sale system designed specifically for restaurants, which includes features like table and order management, menu customization, and tip management. With Square's restaurant POS system, servers can easily take orders tableside using an iPad or other mobile device, and orders are sent directly to the kitchen for faster service. In addition, the system integrates with third-party apps like Caviar for online ordering and delivery, making it easy for restaurants to offer their menu to a wider audience.
| Products for Restaurant | Description |
| Square Point of Sale | Basic POS app for restaurants with item and inventory management, sales tracking, and basic reporting. |
| Square for Restaurants | Restaurant-specific POS system that includes features like menu management, table and order management, and tip management. |
| Square Online Ordering | Online ordering platform for restaurants with pickup and delivery options. |
| Square Terminal | All-in-one credit card terminal that accepts chip and PIN cards, contactless payments, and magstripe cards. |
Solutions for Beauty & Wellness Business
For service-based businesses like salons, spas, and fitness studios, Square offers a variety of tools to help manage appointments, payments, and customer data. This includes a customizable online booking system that allows customers to book appointments directly from a business's website or social media page, as well as appointment reminders and automated confirmations. With Square, service-based businesses can also accept payments directly from customers at the time of service, making it easy to manage cash flow.
| Products for Beauty & Wellness Business | Description |
| Square Appointments | Online booking and scheduling software for beauty and wellness services. |
| Square Point of Sale | Basic POS app for beauty and wellness businesses with item and inventory management, sales tracking, and basic reporting. |
| Square Terminal | All-in-one credit card terminal that accepts chip and PIN cards, contactless payments, and magstripe cards, suitable for businesses providing in-person services. |
| Square Stand | iPad stand with a built-in card reader that can be used as a POS system for beauty and wellness businesses. |
Solutions for Large Businesses
Square Terminal is a comprehensive point-of-sale system that includes hardware and software designed specifically for larger businesses. The system includes a touchscreen display, barcode scanner, and receipt printer, and can be customized with additional hardware like cash drawers and scales. With Square Terminal, larger businesses can manage inventory, sales, and customer data, as well as accept a range of payment types, including credit and debit cards, contactless payments like Apple Pay and Google Pay, and even gift cards. Square Register is a larger, more powerful version of Square's standard point-of-sale system, designed for businesses with higher transaction volumes. The system includes a larger display and additional hardware options, like a customer-facing display and a built-in card reader.
| Products for Large Business | Description |
| Square Payroll | Payroll management software that integrates with Square's POS systems. Suitable for larger businesses with employees. |
| Square for Restaurants Plus | Premium version of Square for Restaurants with advanced features like custom floor plans and server banking. Suitable for larger restaurants with complex operations. |
| Square for Retail Plus | Premium version of Square for Retail with advanced features like advanced reporting and team management. Suitable for larger retail businesses with complex operations. |
| Square Loyalty | Customer loyalty program software that integrates with Square's POS systems. Suitable for larger businesses looking to implement a loyalty program. |
| Square Team Management | Employee management software that integrates with Square's POS systems. Suitable for larger businesses with multiple employees. |
The Ins and Outs of Pricing Model
Square offers a variety of products and services, and their pricing varies depending on which products and features you choose to use. Here's a breakdown of some of their pricing options:
- Square Point of Sale: Square's basic point-of-sale app is free to download and use, and includes features like item and inventory management, sales tracking, and basic reporting. Square charges a flat fee of 2.6% + 10 cents per transaction for all card payments processed through the app.
- Square for Restaurants: Square's restaurant-specific point-of-sale system starts at $60 per month per location, and includes features like menu management, table and order management, and tip management. Square charges a flat fee of 2.6% + 10 cents per transaction for all card payments processed through the app.
- Square for Retail: Square's retail-specific point-of-sale system starts at $60 per month per location, and includes features like inventory management, customer relationship management, and sales reporting. Square charges a flat fee of 2.6% + 10 cents per transaction for all card payments processed through the app.
- Square Online: Square's online store builder is free to use, and includes features like integrated payment processing and inventory management. Square charges a flat fee of 2.9% + 30 cents per transaction for all online payments processed through the store.
Overall, Square's pricing is relatively straightforward, with flat fees for payment processing and subscription-based fees for certain services like restaurant or retail-specific point-of-sale systems. However, it's important to carefully review the fees associated with each product and service to ensure that you understand the full cost of using Square for your business.
Conclusion
In conclusion, Square is a great option for businesses looking to accept digital payments. It provides robust features and tools that make it easy to manage your finances and grow your business. The customer support team is always available to answer any questions or concerns you may have, so don’t hesitate to reach out if you need help getting started. With its competitive pricing plans, user-friendly interface, and reliable payment processing capabilities, Square is an all-around excellent choice for businesses of all sizes.
