Friday I received my Square credit card reader in the mail. It’s fantastic. And for small businesses, it is a must. For a long time I didn’t accept credit cards because merchant accounts were too much of a hassle. Then PayPal came along and I was able to accept credit card payments via the web. And for a company like mine, invoicing online is still a viable way to get payments. But what if you’re main business is selling in the real world?
The Square app and card reader are both free and the pricing is very straightforward: 2.75% per transaction. That’s it. No tiers, no complicated calculations. It’s sleek and VERY cool. A friend of mine in the industry said that this could be “disruptive”, meaning that this new product/service could cause people to drastically change their behavior and current business models may suddenly appear cumbersome and fall into obsolescence.
So if you have an iPhone or an iPad, a checking account and something to sell, this is your credit card payment solution. I can see this device popping up at yard sales, flea markets, Craig’s List sales, even that crazy-looking guy who sells News Journals on Walnut.