This resource for payment processing called Square is coming up more and more in my business conversations - I would love to hear from anyone who is using it to handle client invoices and how you handle the payment processing (the logistics of it), and how easy it is to transfer funds to your bank account, etc.

If you have specific comparisons to offer relative to PayPal I'd be very curious to hear those as well.

For those who are as yet unfamiliar with Square the site explains:
2.75% per swipe for all cards

One simple rate, all major credit cards.
Next-day payout

Automatic direct deposits to your bank account.
Free reader, free app

For iPhone, iPad and Android.
Fast setup

Take your first credit card payment in minutes.

It also says on the site that if you sign up they will send you a free Square card reader.... pretty cool!

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Thanks Tess for this info. I am so hoping to find another payment system or two so I can dump Paypal!

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JoCarole
http://www.shoreofficeservices.com

I use it and I LOVE it!

Like it says payment hits my account the next day. My retainer clients love it because I just have their card on file they email me the approved and it's done. I do still send them their invoice out of QuickBooks by email, they simply hit reply and approve the amount. They don't have to mess with anything to get payment made. I find making payment as easy as possible is best. For those who wish to keep their card number private I use Google Checkout, I've only had that happen once for a very small project.

The reader is free and arrives about a week after setting up your account. I recently had to add a new account, or rather change my account the entire process was done in 48 hours and once again my next payment had the deposit in the next business day. Deposits happen automatically you don't need to do anything to make them happen, simply process the payment.

I've used it since July of last year when I launched.

Stacey, I just ordered the card reader, I'm going to have to check this out...

So it sounds like you are keeping your clients' CC#s on file, is that correct?

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Tess, That's correct I keep my client's cards on file. It's actually been very handy above and beyond payment processing. I've needed to make orders or reservations for clients for one thing or another and they can just say use the card I have on file.

There is an additional charge to process it by entering the card instead of swiping in I believe, in my opinion it's worth it.

I used it for a garage sale a while ago and LOVED it! I don't currently have any clients that wish to pay by cc but, if/when I do, I will use square as it is quick, easy, convenient, and offers an alternative to paypal.

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"

I love Intuit - for only $.50 a transaction you can't beat it!

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A Virtual Assistant in Paradise
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I ordered a Square but haven't received it just yet. I planned to use it for a garage sale as I saw the convenience in that one day by not having cash for a purchase I wanted to make!

For those who have used Square...how does it compare to PayPal? Are the fees any less?

Also, I would be interested to know if clients are OK with giving out a credit card number. Do you get this information over the telephone?

Janine

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Janine, I'm not sure what the fees are for PayPal now but I believe Square is less.

As for CC info I don't receive it over the phone, with my contract goes out a CC authorization form. I have 2 one for projects and one for retainers. I have only had one small project client prefer not to share the CC number and for him we used Google Checkout.

I love the idea of using it for garage sales, or even things sold on Craigslist, some people sell pretty big ticket items and Square makes it easy to accept a CC for those types of events.

I use it too. Sometimes I have new clients who call with an emergency and need help immediately. I estimate what the project will cost and take 1/2 of that immediately by credit card using Square. Works flawlessly and saves me the worry over whether or not these people will pay me.

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Stacey B. Stahl, Owner/Virtual Assistant
CuttingEdgeVirtualAssistant.co m