Square POS is a point-of-sale software solution for restaurants, retail, or appointment-based businesses. It features numerous inventory (or menu) management and control features, and options that allow customers to pay in any way they want or can.
$10
per each additional reader; first reader free
Wise
Score 9.4 out of 10
N/A
Wise, formerly TransferWise, from the company of the same name headquartered in London, provides international accounts and payment solutions for businesses. Wise helps businesses pay international invoices, vendors, and employees with the real exchange rate, in 80 countries, boasting cheaper rates than traditional banking options. It also helps to make faster, lower-cost payouts to all business customers, freelancers, employees, investors, and suppliers around the world.
Square POS is by far the easiest POS software to use at events and train additional team members on - even with temporary or first-time employees. It's easy to see how each event is doing in live time. It gives the event manager a real-time view of revenue earned. Its really easy to create/manage/delete users to keep the platform secure.
For a small business looking to expand internationally, transferwise offers lower admin fee and no hidden fee which is very important. It also remove the hassle and headache of setting up accounts with the local banks. Other than the low fees, the best part is we can use transferwise safely with a peace of mind as it is being regulated by the MAS. Lastly, any small business can set up their transferwise account within minutes which is very convenient
Mobile transactions (not like from a phone, but in terms of the ability to physically relocate rapidly).
Simple setup.
Generally uncomplicated pricing.
Widespread customer familiarity: because it's so regularly in use in our industry (musicians/entertainment professionals), people know and trust it in a way that you might not with a different provider.
For large money transfers, the tax is a bit expensive so it would be nice if that was adjusted or if there was some economy of scale.
Ability to schedule recurring transfers could be useful.
Be able to transfer money by using a mobile phone number, like with Mobile Pay or Bizum, when the sender and receiver of the money are in different countries.
I don't really foresee anything being able to dislodge Square from our organization—we're not evangelists or anything like that—it's just the best solution we've found for our use case. Being able to quickly handle transactions from customers and then track all of those sales for analysis/bookkeeping later on.
We find Square POS is very user friendly. Its interface is customizable to our needs and very easy to use. Before we adopted Square POS, we used a combination of solutions from different manufacturer to try and achieve a portion of the functionality that Square POS provides under only 1 login
An admission - I have NEVER had to use Square POS support. The system is seamless, it just works! I have never had any queries about how the system worked as everything is so clearly laid out. I have never had any problems with payments. If their support systems are anywhere near as good as their software, I think we'll be in good hands.
We only used Square POS while we were getting set up with Authorize.Net. It isn't as flashy or recognized by the general public, but in our industry, that isn't a priority. We do very large transactions so the higher rates and fees from Square add up insanely quickly making the lower rates and fees from Authorize.Net the nail in Square's coffin for us.
We considered PayPal payment, ACH bank transfer, and simply mailing a check. TransferWise's fees were much lower than PayPal and our bank. Postage might have been less than TransferWise's fee, but payment could have taken more than a week rather than hours (or days in the case of a new payee).
The opportunity cost of waiting for payments and manually bringing them to a bank means that we don't have to visit our bank branch. That alone saves us several hours each month.
We can use ordinary computers and mobile devices with Square instead of paying for expensive software or terminals.
Our clients appreciate not having to process payments to us, and anything that helps our clients and makes them happy carries more import than I can explain in this space.
