Square Vs.Online Payment Gateway

Square Vs.Online Payment Gateway

Square is undoubtedly one of the most efficient payment processors. If we see the current situation, online business is rapidly growing. When it comes to online business, the payment processor plays an important role. The payment processor generally provides an online payment gateway through which businessmen can accept online payment. Online payment gateway securely sends the important credit card information to the payment processor. Moreover, the credit card information remains in an encrypted form and so, it is completely difficult to copy the information by the fraudsters.

If we consider the present situation, people are really preferring online transactions. Small merchants have to makes changes in their business strategies so that they can cope up with the competitive market. After the arrival of COVID-19, social distancing has become very important. People have started preferring NFC mode transaction that is otherwise known as a contactless transaction. However, if you want to accept online credit card payment from the customers, you must become a registered merchant under a merchant processor solution.

At present, there are many merchant processor solutions offering online payment gateway such as Stripe, PayPal and many more. Among these, Square is remarkable and here we are going to tell you some reasons behind it.

Square

We have added the positive as well as negative aspects of this virtual platform here in order to give you a concrete idea. So, have a look at the following points:

Positive Aspects

Square has the following positive aspects:

  • The company offers affordable flat-rate pricing. Well, the online pricing structure is very complex and there are different types of pricing structures available. But, among them, flat-rate pricing is the easiest one. Therefore, if you are a new merchant, you will not have any problem to understand the flat-rate pricing structure.
  • If the overall transaction volume is very low for your business, you can go with this merchant processor. A flat-rate pricing structure will be ideal for your business and you will be able to gain a huge amount of profit.
  • Another important thing is that there will be no monthly fee.
  • Square is rich in dynamic features and so, if you become a merchant of Square, you can avail of the advantages.
  • The user interface is very simple. Moreover, the company offers an all-in-one payment system.
  • If you are a Canadian merchant, you can register your business under Square.

By now, you have understood the importance of Square. Now, if you want an online payment gateway for your business, you can get in touch with Square.