Square's Accessories
As well as the basic card reader machines and POS software that comes with them (all of which are explored above), Square also provide accessories to accompany its machines. These accessories allow you to mould your EPOS system to your specific needs.
If for example, you buy a Square Register to deal with your customers but, later down the line you require a cash drawer to keep your cash takings in, you can buy one directly from Square. Likewise, if your customers start to ask for printed receipts, you can choose from a whole range of printers available on Square's website.
Other accessories include barcode scanners, docks for card readers, kitchen touchscreens, and wall mounts. All of these mean your business can grow and develop and stick with Square for the duration, because it will be able to keep up with your business's demand for hardware, making it a viable option even for businesses that are likely to change the way they work in the near future.
How Much Does Square Cost?
As you've already read, Square provide a range of hardware to both take payments directly and facilitate the taking of payments. All of this hardware, you'll have seen, carries a one-off cost. After you pay for the hardware, there's no requirement, as there is with some payment system providers, to carry on paying for it over an indefinite period. You are also not required to pay any monthly fee for using Square's equipment, something else which makes the company a good option for businesses looking to save money.
You are, however, required to pay transaction fees on each payment that is processed through Square. The transaction fee you pay depends on a few factors. You pay a 1.75% transaction fee on in-person transactions that are chip & PIN payments, mobile payments, or contactless payments.
You pay a higher rate of 2.5% for manually keyed-in payments that go through the Square Point of Sale app, Square invoices, and card payments that happen over the phone with Square's virtual terminal.
When it comes to online payments, you pay a 1.4% transaction fee (+25p) on payments made on UK cards and a 2.5% transaction fee (+25p) for non-UK card transactions. This pricing structure applies to online store payments, online checkouts, and online API.