I’m going to test this out. It could be useful for merchants who set up temporary storefronts (i.e. Farmers’ markets, arts & crafts markets). I know from firsthand experience that setting up a merchant account is tedious.
To become a credit card merchant, you have to buy the card-reading equipment, which costs several hundred dollars. You generally pay a setup fee, and you commit to a one- or two-year contract with the processing company. You pay $15 to $25 a month, and minimum transaction fees of $25 a month, even if you had no sales at all.
The Square Up system, on the other hand, eliminates that stuff. All of it. It makes the barrier to entry into the credit card world so low, there’s virtually nothing to stop you, the little guy, from taking the leap.
Design by Simon Fletcher. Powered by Tumblr.
© Copyright 2010
