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Saturday, July 28th, 2018
Best Payment Providers

A Good Fit For:

What We Like

Square charges no set-up, monthly, chargeback, or early termination fees. Also, its processing rates are straightforward and transparent.

What We Didn't Like

Square is not a good fit for high-volume merchants and other high-risk merchants. It is quick to hold funds or terminate accounts if transactions appear suspicious, and customer service is unresponsive.

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Square, which is part of the San Francisco-based Square, Inc., is a popular payment aggregator. It has offices throughout the United States, Canada, the UK, Japan, Australia, and Ireland. Jack Dorsey, the CEO and co-founder of Twitter, founded Square in 2009. In addition to its POS platform, it offers a number of products that handle business transactions and financial management. Financing and person-to-person payments services also are available.

Signing up for Square is simple and quick. iPhone, iPad, and Android users can use its payment processing services after filling out an online form, buying a card reader, and downloading its free app.

There is a large number of businesses, including those that offer in credit collection, betting, prepaid cards, subscription services, escorts, drug paraphernalia, and many other high-risk businesses, that are prohibited from selling with Square.

Overall, Square is one of the more most feature-dense mobile processing solutions that don’t require a monthly fee.


When it comes to marketing strategy, Square stands out. For the most part, Square depends heavily on its website, word-of-mouth, and partnerships with retailers and social media channels to build its customer base. For instance, Snapchat and Square partnered up to create Snapcash. Through this type of relationship, Square was able to broaden its customer base and add to its brand by sitting alongside a fellow young, complementary brand image, like Snapchat.

Part of the reason that its marketing is so straightforward and transparent may be because it does not work with independent sales agents.


It was very positive to not find any misleading rates or deceptive claims. There are a number of complaints in the digital space about Square holding funds for long periods of time or abruptly terminating accounts. In many cases, it appears that this occurred due to fraudulent or suspicious business activities that are noted in Square’s terms and conditions.


Unlike like other payment solutions businesses, Square doesn’t use independent resellers, and it didn’t promote any deceptive rates. Instead, Square uses its website and partnerships with retailers to build its customer base and to market its services. Additionally, we found very few complaints that criticized Square for its sales strategies and tactics.


Customers can call, email, or tweet at members of the Square team from 9 a.m. to 5 p.m. on weekdays. Its Support Center, which offers helpful tutorials and tools, is available 24 hour per day, seven days per week.

It does not offer a live chat option, however, it also has a “Ask the Community section, where you can ask questions, and then other users can respond to them.

Square is on Facebook, and typically, staff responds to comments and questions within a day. It also is very active on Twitter, using this platform to engage and inform.

Staff Responsiveness

When it comes to responsiveness, Square needs to step up and improve. A member of the sales team responded to an email within two business days, which we felt was a really long time for a simple inquiry.

Calling isn’t the best route either. It was a nightmare. Calls were dropped multiple times, and we were disconnected during transfers.

However, Twitter does seem to get the attend of the Square team. It uses the social media platform to update customers on happenings within the business, and they also respond to customers on the platform.

Staff Education

Since it was very difficult to reach a person, it is hard to comment on staff education. However, it is important to note that Square’s site is very content rich. Almost anything you would want to know about can be found in its support center. All of this content is easy to understand, quick to access, and user-friendly, which makes senses because its user interface was created to be easy and intuitive, so users can set up themselves in a short period of time.

Staff Interaction

Our interaction with staff was limited. When we called, we were able to talk to two representatives. They seemed to genuinely want to help, but, at times, seemed confused. Also, when we compared what we were told, their information was inconsistent. Waiting two days for an email response also is very disappointing, and something a number of merchants say. The email was short and offered little information. We could see this being very frustrating to organizations, especially smaller ones with little time and resources.


Square is very upfront about pricing, and it doesn’t charge a bunch of extras or hidden fees that you will find with other processors. Square charges no fees for: activation, interchange, chargebacks, cash payments, refunds, inactivity, or PCI compliance.

Chip and PIN or contactless payments are charged at 1.75%, and e-commerce, invoice, and typed-in card payments are charged at 2.5% All major credit cards are accepted.

Transaction Limits

Each merchant that signs up with Square has a per transaction limit of $50,000. Merchants that accept single transactions above $50,000 must split the payments into multiple installments. For these larger payments, Square asks merchants to record the receipt number and the total amount charged for each payment installment. Also, Square notes that it may reach out to customers to confirm the payment information.

Also, Square requires merchants who process more than $100,000 per year to sign a Commercial Entity Agreement. Signing this acknowledges that the payments processed are associated with a commercial business.

Early Termination Fee

Since square doesn’t require long-term contracts, there are no early termination fees.


Square sells card readers, which accept chip and PIN cards, contactless cards, and mobile payments, for £39. A reader dock is available for £19, and a stand is available for £129. All of these prices exclude VAT.

Other Features

For £3 per month, Square offers an employee management tool. Next day deposits come standard with Square. However, you can get instant deposits at a cost of 1% of the deposit.

A number of free features, including the Square POS app, real-time analytics, sales reporting, and chargeback management, come with a Square account.

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