Business Solutions: The Square Credit Card Reader

Square's credit card reader was created by Twitter co-founder Jack Dorsey. The small device attaches to the microphone jack on Android and Apple devices. Through the Square App, a person can charge credit and debit card payments with the reader or by keying in a card number. There is a small fee for each transaction, but using the app and obtaining the credit card reader is completely free. Without a doubt, businesses and individuals are going to be able to benefit from this little device.

What can it be used for?

The Square credit and debit card reader is very versatile for businesses and individuals in many different ways. For starters, businesses that use traditional credit card machines pay hefty fees to have those devices. The Square reader doesn't cost nearly as much to use because a small transaction fee is the only cost involved. Businesses that can't afford these expensive machines can just go with Square's card reader. Obviously, small businesses will benefit tremendously from the device.

As for individuals, the device can still come in handy. A person can get money owed to them by someone else with the swipe of a card. Also, an individual that does contract-like work can get paid quickly and easily by debit or credit. The app even keeps track of cash transactions to make financial life just a little bit easier. Regular people will find that the Square credit card reader doesn't always come in handy, but it is a nice little tool to own because it's free.

How does it work?

The device and associated app are simple to use. Basically, a person will open up the app and plug in the Square reader. From there, a person just has to select a charge method (credit/debit or cash). It's possible to take a picture of the goods or add in a text description. The card is then slid through the device or the card information is keyed in. After that, the funds are taken from the card and put into the person's Square account. Payments will then automatically transfer to the bank account on record. It's as simple as that!

How much does it cost?

The Square reader and Square app are free to obtain and download. Fortunately, there are no monthly or annual fees for using the device or app. All transactions incur a fair 2.75% fee, which turns into 3.5% plus 15 cents if you key in the card information. Either way, you don't lose a ton of money for each transaction in fees. You could just order the device and let it sit in a drawer for years - there are no charges until you use the device for a swiped or keyed-in transaction.

Give it a shot.

The Square credit card reader is an amazing little device that isn't all that new. However, the device recently became compatible with the Apple iPhone, iPod Touch, and iPad. The devices already work with most Android devices. So then, the card reader is a versatile piece of equipment that both small businesses and individuals can take advantage of.

For more information, visit Square's Website.