POS for the rest of us

Ok, picture this. You have a small business, or you sell cakes at the bus depot markets or do anything that requires the taking of money. In the past you have been limited to cash or spending bigly (thank you Mr Trump) on renting a credit card machine from the bank. If you are running a small business this might just be worth it but you’ll have to sell a shed load of sticky buns to make it worth while. And this nothing of the numerous charity events that are forced to do everything manually.

Thing is cash is getting  a little 20th century all of a sudden. What with Android pay (20c in very dollar going to the Russian mafia), ApplePay, parking machines that don’t require change and pay wave, carrying cash is feeling as in vogue as wearing a top hat.

But there is a solution, and I am not talking about the banks.

The answer is a service called Square and it comes in two distinct parts.

The hardware

You’ll need a reader and this can be purchased from Square or, more conveniently, from somewhere like Officeworks. A small card reader (swipe) will set back about $20, the pay wave version about $60. And the best news…? This isn’t a rental… once you buy it, it’s yours with no more to pay. This is a happy day indeed considering a reader from the bank can cost an eye watering (especially if you are selling cup cakes on a tight margin) $12-$35 a month!

Your Account

Your account is the process thats takes the most time, primarily because Square needs to talk to your bank and verify your credentials. But fear not, seconds after you have started your account and the ball is rolling you can begin accepting payments via the web or your Square reader. Then, once the bank has gotten over its tweediness, the funds will roll into your account.

The end result

When it comes down to it with Square you end up with a once only payment for the reader, multiple ways of accepting payments, intelligent and engaging receipts (aka, built in feedback) and the fees are typically less than those charged by the banks. (1.9% as opposed to 2.6% in some cases) AND the money arrives in your bank account the very next day. If it sounds like I am raving, its because I am… this really is a great alternative – no replacement – for the typical merchant facilities available from the banks.

If you are thinking about taking this up you  can start your Square account here using my official invitation and buy your reader of choice later from the following places:


Bunnings (believe it or not)

Harvey Norman


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