Don’t Get “Squared” by Square Up
I am noticing more and more merchant using Square for processing their credit cards. On the surface Square may seem like a good option and for some it maybe. If you are just starting out and not sure how well your new business my take off and depending on what you are selling or services of your new business, perhaps it is a good option. For example, right now it is more of a hobby that a thriving business. Square might be a good option.
However consider the down side of Square. In many cases the cost for processing credit cards can be higher with Square. Because Square is an aggregator you have no true merchant account. They refer to their customers as sellers. When one opens an account, they take much of what one presents with little vetting or underwriting. If they question later what you do or sell or how you sell it, all then without warning your money will be withheld. Then the fun begins with getting help or having a conversation with a person. Consider other service related issues. See the example below:
By the way Square is losing money, Net Loss of $48 million – per page 13 4q 2015 letter to investors
If you want to have first class customer service, in most cases less cost than what Square, call us. 888-506-9225
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