Square is taking the lead forward. Standing in the 21st century, it is very important to understand the online payment processing system. Yes, if we talk about the present situation, the entire ecosystem of payment is transformed. People don’t carry cash with them. Instead of it, they give preference to online payment or cashless transactions. Therefore, if you are into online business, you are probably looking for an ideal payment processor that offers an all-in-one payment solution.

Well, there are many payment processors that offer online payment gateways such as PayPal, Stripe, Square and many more. PayPal and Stripe have already gained huge popularity and we have also covered them. But, you might be surprised to know that Square is not far behind. Square is a well-known online payment gateway provider through which merchants can receive payments online flawlessly.

Features Of Square

Square consists of so many features that you might get confused if you are new to this online industry. Well, we have elaborated the features of Square below. So, have a look at the following points:

  • mPOS application
  • Invoicing and virtual terminals
  • Online payments

mPOS Application

The application is otherwise known as Square Point of Sale. The previous name of this application was Square Register. It is the all-in-one solution for all those merchants who take payments online. The core characteristics of Square Point of Sale are as follows:

  • mPOS is capable of accepting all forms of credit
  • It has keyed transaction support
  • mPOS has the capability to record cash transaction
  • It can issue full as well as partial refunds
  • It has barcode as well as SKUs
  • The POS has receipt printing features. It takes information via SMS or email.
  • mPOS has cash drawer support
  • It supports invoicing

Fee Structure

Setup feeNone
Fixed monthly fees2.6% + 10 cent
Contactless chip and Swipe transaction fee2.6% + 10 cent
Keyed-in transaction fee3.5% + 15 cent
Additional fee for non-US cardsNone
Currency conversion feenone
Standard deposits in bank accountFree
Instant transfers to the bank account1% fee added
RefundsNo refund fee

Online Payment

Square first launched an online store in order to boost the e-commerce industry. The store is currently controlled by Weebly. With its advanced online payment gateway, receiving online payment is very easy. Square supports various payment methods. So, merchants will not have any problem to accept payments online.

Invoicing And Virtual Terminal

Invoicing and virtual terminal are other key features through which merchants can accept payment from anywhere.

So, this is all about Stripe. We hope that this article would be helpful for you.