Square POS: Our Verdict
Square POS presents an accessible and budget-friendly option for small to medium-sized businesses. It includes key functionalities like payment processing, inventory tracking, and sales reporting. With its user-friendly interface and simple setup, Square POS caters to businesses of various sizes.
Additionally, its competitive pricing and clear fee structure are particularly attractive to cost-conscious business owners.
However, companies needing more advanced features or extensive assistance might find Square’s customer support and feature set less comprehensive compared to other POS solutions available.
Processing: Starting at 2.6% plus $0.10 per transaction
Best For: Start-up Retailers; Small restaurant and appointment businesses
Pros
- Simple, user-friendly interface
- Versatile with mobile hardware
- Streamlined self-service account initiation
Cons
- Lacking payment processing flexibility
- Less in-depth reporting and analytics
Pricing
Square Free
$0/mo
- POS app for any payment
- Online site
- Item library
Square Plus
$49/Custom
- POS features for every industry
- Lower processing fees
- Loyalty rewards program
Square Premium
$149/mo
- 24/7 priority support
- More text message marketing
- No gift card load fees
Full Square POS Review
Most startup retailers seek a straightforward and user-friendly POS to simplify their daily workflow. In many ways, Square POS is a solid solution with minimal onboarding requirements and a turnkey setup.
Nonetheless, a thorough Square review reveals that while the platform offers a range of basic tools for smaller brick-and-mortar businesses, certain limitations remain to consider. For example, most of its setups do not allow new users to interact with humans.
In addition, their built-in payment processing does not allow retailers to shop around for more competitive rates. Finally, some advanced inventory management features are less dynamic than those of other alternatives in the field.
Read on for a more in-depth review and explanation of what this provider offers, as well as whether it is a good fit for your retail business.
Payment processors giving you trouble?
We won’t. KORONA POS is not a payment processor. That means we’ll always find the best payment provider for your business’s needs.
What Business Types Is Square POS For?
Square is a great fit for certain business niches, but not all. In general, it’s best suited for smaller operations that need a simple solution for checking out customers and processing payments.
Small Retail Stores
Square’s user-friendly interface and affordable pricing make it an excellent choice for small retail businesses. However, businesses with complex inventory needs may find Square’s inventory management features somewhat lacking.
Food & Beverage
Square is popular among cafes, food trucks, and small restaurants due to its seamless integration with kitchen printers and flexible menu customization. This makes it a viable option as a quick-service POS system.
Service-Based Businesses
Square is well-suited for service-based businesses such as salons, spas, and consulting firms, offering appointment scheduling and invoicing features that streamline operations and enhance customer experience. Its interface enables businesses to manage appointments, track client preferences, and send automated reminders efficiently.
Pop-Up Shops and Events
Square’s mobility and versatility make it ideal for pop-up shops, markets, and events, enabling businesses to accept payments anywhere. However, businesses participating in high-volume events may encounter limitations in processing transactions efficiently due to potential network connectivity issues.
What is Square POS Best For?
- Startup businesses who want simplicity: Square provides an intuitive platform that streamlines payment processing, inventory management, and analytics without the complexity often associated with many other POS systems.
- Flexibility with mobile devices: Small-scale retailers can run Square with mobile devices like smartphones and tablets, making it ideal for on-the-go operations.
- Retailers who want integrated payments: With Square, every aspect of payment processing is built in. While this may streamline checkout processes, it restricts retailers to higher processing fees.
Square Pricing
Square POS pricing includes three main structures: Square Restaurant, Square Retail, and Square Appointments. Here’s a breakdown of each, plus more information on hardware and additional costs.
Square Pricing
Square provides a range of hardware, from basic card readers to full POS systems. Square POS pricing offers optional monthly subscriptions for advanced features, which can increase the cost for businesses requiring these tools.
Square Monthly Subscription Plan
Free
Best for new or very small businesses with lower sales volumes and basic needs. You pay only transaction fees.
POS app and payments
Website builder with SEO tools
Courses
Item library
Plus
$49/month
Ideal for growing businesses that need essential tools to manage a team, optimize their website, and want the benefit of a slightly lower in-person transaction rate (2.5% ).
Staff management
Expanded site customization
Loyalty rewards program
Premium ($149/month)
The most cost-effective option for high-volume sellers due to the lowest in-person transaction fee (2.4%) and the included features like 24/7 dedicated support and waived gift card load fees, which can add up to significant savings.
Advanced reporting
No gift card load fees
24/7 phone support
KORONA Ticketing
+$50/month per gate
For amusement parks, museums, water parks, and other admission-based businesses
Ticket printing
Entry gates
Ticket definitions
Customer management
Time-tracking
Cash journals
KORONA Event integration for online ticketing
KORONA Franchise
+$30/month per franchise
For franchise businesses to streamline communication and operations between franchisors and franchisees
Franchisor features
Scalability for franchisees
Customizable royalty systems
Product syncing
International options
Custom taxes and currencies
Centralized inventory management
KORONA Integration
+$45/month per token
For businesses that require custom development of niche integrations through the KORONA POS open API
Integration jobs
Integration job-workflows
Integrations services
Integration dashboard
Payment Processing Fees
Square’s Point of Sale (POS) system is known for its simple, flat-rate pricing structure. These fees apply to all major credit cards (Visa, Mastercard, American Express, and Discover) at the same rate.
Transaction Type | Standard Rate (US) | Key Information |
In-Person (Tap, Dip, or Swipe) | 2.4% + 15¢ to 2.6% + 15¢ | Applies when the customer's card is physically present and used with a Square Reader, Terminal, or Register. |
Online (eCommerce API, Square Online Store) | 2.9% + $0.30 to 3.3% + 30¢ | A higher rate due to the increased risk associated with card-not-present transactions. |
Manually Keyed-In / Card on File | 3.5% + 15¢ | The highest rate typically applies to payments entered into the Virtual Terminal or saved on file, as they carry the highest fraud risk. |
ACH Bank Transfer (via Invoice) | 1% (Min. $1) | For payments made directly from a customer's bank account. |
Afterpay (Installments) | 6% + $0.30 | Square pays you the full amount upfront, and the customer pays over time. |
PRO TIP
For the most up-to-date details, please visit Square’s pricing page for your country or contact our support team.
Hardware Costs
Square offers a range of hardware solutions to suit different business needs:
Square Reader for Magstripe: The reader allows you to accept Magstripe card payments using a mobile device. Square offers the first reader for free.
Square Reader for Contactless and Chip (2nd Generation): This reader, available for $59, supports contactless payments and EMV chip cards.
Square Terminal: At $299 or $27/mo over 12 months, this all-in-one device enables you to accept payments, print receipts, and manage transactions without additional hardware.
Square Register: Starting at $799 or $39/mo over 24 months, it is a fully integrated POS system that features a customer-facing display and is designed for seamless payment processing.
Square Stand: For $149 or $14/mo over 12 months. The Square Stand transforms your iPad into a professional POS system that supports various payment methods.
Additional Fees and Information
- Monthly Fees: Square’s POS software is free to use, but depending on the options and the type of business you run, it can cost between $29 and custom pricing.
- No Long-Term Contracts: Square does not require long-term contracts or charge equipment fees, providing business flexibility.
- Custom Pricing: Square offers custom pricing for businesses that process over $250,000 in card sales annually. Interested companies can contact Square’s sales team for more information.
- Afterpay Fees: Square charges a fee of 6% + $0.30 per transaction for transactions using Afterpay.
Square POS Top Features
Feature | Details |
Cloud Based | Square is a cloud-based solution. Your data is stored offsite, and your updates will be automatic. |
Payment Processing | Square has its own built-in payment processing. It accepts various payment methods, including credit cards, debit cards, and contactless payments. |
Inventory Management | Track inventory levels, setting up low-stock alerts, and managing item variations. Square has tools for barcode labeling, generating reports, and importing product lists from spreadsheets. |
Sales Analytics | Provides insights into sales trends, customer behavior, and employee performance. Break down complicated sales data into useful information to drive marketing and merchandising decisions. |
Customer Management | Square has solid CRM capabilities for creating customer profiles, tracking purchase history, and sending personalized offers. Includes email marketing, SMS outreach, and customer loyalty. |
Employee Management | "Team Management" features help with employee permissions, tracking hours worked, and generating payroll reports. Custom-control individuals' access and permissions. |
Customizable Settings | Customization options for receipts, taxes, and discounts to fit specific business needs. Dashboard widgets are also customizable to cater to each shop. |
Offline Mode | Process transactions when the internet connection is temporarily unavailable. Payments will go through once reconnected to the internet. |
Integrations | Integrate with various third-party apps for accounting software, eCommerce platforms, and dozens more. |
Secure Transactions | Ensures secure transactions through encryption, compliance with PCI Data Security Standards, 2-step verification, and other anti-fraud measures. |
Pros of Square POS
- User-friendly interface
Square POS features an intuitive interface, facilitating quick onboarding and ease of use for staff members of all skill levels.
- Affordable pricing structure
With transparent pricing and no long-term contracts, Square POS offers cost-effective solutions suitable for businesses of all sizes, especially beneficial for startups and small businesses with limited budgets.
- Mobile compatibility
Square’s compatibility with mobile devices enables businesses to process transactions on smartphones or tablets, providing flexibility for on-the-go sales environments such as pop-up shops and events.
- Comprehensive reporting and analytics
Square POS provides adequate sales reports and analytics, empowering businesses to gain insights into their performance, track sales trends, and make informed decisions to drive growth.
- Inventory management
Square POS offers basic inventory management features, helping businesses track stock levels, manage products, and receive low-stock alerts to avoid stockouts.
- Integrated ecosystem
Square POS integrates with other business tools and services such as accounting software, payroll systems, and eCommerce. This asset enhances efficiency through automation and data synchronization across platforms.
Cons of Square POS
- Customers complain of Square withholding funds
When considering Square as a point of sale system, one of the biggest things to be aware of is its fund-holding policies. There is no traditional underwriter process, and accounts can be opened without human interaction.
Although this is beneficial in terms of efficiency and avoiding pushy salespeople, there is a risk that the first time you receive significant funds or a one-time larger payment, Square can put your money on hold until they deem it safe.
- Higher fees on sales
As mentioned, Square POS’s flat rate pricing structure can become costly as businesses scale up and grow. The system charges a higher percentage on transactions than many other payment processing solutions.
For businesses that process high volumes of transactions, these fees can add up quickly.
- Lack of customer support and service
Numerous complaints about Square’s lack of support and customer service have been made public. Square POS does not offer phone support (and only limited chat support for their basic plan), which can be a significant issue for businesses that experience technical difficulties or face unexpected disruptions like a square pos outage.
While the company does offer email support, response times can be slow, leaving businesses without a solution for hours or even days.
When comparing customer support between Square POS vs. Shopify POS or KORONA POS with their 24/7 POS support, Square’s customer service can be found lacking in comparison.
The more I learn to use KORONA POS, and with the help of awesome customer support, the more I believe this POS system could be a very good fit for many types of businesses out there. What I love the most about this software is the 24/7 customer service and reporting function which are very easy to use.
-Kevin L.
Square POS Frequently Asked Questions
Below are a few commonly asked questions regarding Square’s POS system. To learn more, visit Square’s website.
Is Square a good payment system?
Square is widely regarded as a reliable and effective payment system, offering businesses a user-friendly platform to accept various forms of payment. Its intuitive interface, seamless integration with mobile devices, and comprehensive reporting capabilities make it a popular choice among small to medium-sized businesses seeking simplicity and flexibility in managing transactions. However, businesses with complex needs or high transaction volumes may have limitations in Square’s features, processing fees, and customer support.
What is the downside of Square?
One downside of Square is its relatively limited customer support options. It primarily relies on email, online forums, and social media for assistance, which may not always provide immediate resolutions for urgent issues. Additionally, while Square offers basic inventory management features, businesses with complex needs may find these capabilities lacking compared to more specialized systems. Finally, some users have reported occasional account holds or sudden terminations by Square, highlighting potential risks for businesses reliant on the platform for payment processing.
How much does Square cost per month?
Square’s pricing varies based on the specific products and services businesses use. Square charges a flat fee per transaction for its basic payment processing service, typically around 2.6% + 10¢ for in-person transactions and 2.9% + 30¢ for online transactions. However, Square also offers additional services such as Square for Retail or Square Appointments, which may incur separate monthly subscription fees depending on the features required by the business.
Conclusion
In conclusion, Square POS is a versatile and adaptable solution for most small business retailers. Its user-friendly interface, seamless integration with eCommerce, and flexible hardware options make it a top choice for retailers and service providers.
Nonetheless, advanced features and customer support may be limited. KORONA POS is a great option for retail point of sale owners seeking a more comprehensive inventory management platform and advanced in-house technical support. Click the link below to learn more about KORONA POS and sign up for a free trial with zero obligations.
