Square Online Store
- Cost: From 2.5%
- Best for: SMBs with low-volume sales on a monthly basis
- Compatibility: iPad and mobile devices
- Link: https://squareup.com/
Unless you've been living under a rock, Square is a name you're already familiar with. It's without a doubt the most well-known POS system on the market today, which is unsurprising. Square is a popular choice for low-volume businesses trying to save money because it has no monthly fees and offers extremely low rates. For swiped transactions, you can pay a flat rate of 2.6 percent +$.10, and for keyed transactions, you can pay a flat rate of 3.5 percent +$.15. Those are excellent rates, in case you weren't aware.
Square isn't just a low-cost dining option. An e-commerce platform, inventory management, and virtual payment terminals are all included in the iPad POS system. Square is also mobile-friendly, has a developer API, and a large number of third-party integrations. Square is a wonderful alternative for just about any other type of business, including at-home services, food industries, and shops. While it isn't a viable solution for high-risk industries, it is ideal for just about any other type of business.
Pros
- Quality and affordability are well-known
- Pricing is simple and flat-rate
- There are no monthly costs, and chip readers are free
Cons
- For high-volume merchants, this isn't ideal
- Doesn't work in industries with a high level of risk
