Boost Your Profits Instantly With Your Own Credit Card Reader Writer

The ease of set-up, non-restrictive pricing plans, and instant processing make Square a frontrunner when it comes to processing merchant accounts.

Boost your profits by carrying the Square Reader in your store.

A credit card reader is an easy way to turn more customers into buyers: it gives them more payment options and allows them to spend more on impulse buys. In fact, 92% of people complete a purchase that they would have otherwise abandoned with the addition of a credit card reader.

What's more, it costs only $10 to start accepting credit cards with Square. While PayPal has a $30 flat-rate per month for its payment processing, Square charges 2.75% on each credit card transaction.

If you process more than $1,000 in credit card sales per month ($250,000 annually), then you are required to pay Square a monthly fee of $15. Otherwise, this fee is optional and can be waived on a monthly basis.

What's more, you will be receiving a $100 credit to use instantly!

How Does Square Readers Work?

At the store checkout, the reader will display a static image of the customer's card on its screen. You can then manually swipe the card into your Square reader, or let it happen automatically. In either case, you will be able to see when it is processed and when it is approved or declined.

Another advantage of using a reader is that you can ultimately process up to 50% more sales compared to using only cash or manual processing methods.

Should You Use Square Reader?

If you currently process more than $250,000 annually in sales, then you should not use Square. Even if your amount is just below $250,000, check out our other payment processing services before going with this one.

The best place to use Square really is as an impulse buy booster at the checkout.

In fact: use it at a cash-only store where customers will likely spend more money and conclude the purchase faster with the added convenience of credit card processing.

You are also encouraged to use Square as an impulse buy booster at your retail store.

Credit card processing is at the forefront of today's retail trends, and putting in a reader is a no-brainer for virtually any merchant's bottom line.

The writer holds a master's degree in management information systems and has over 30 years of experience working in payment processing. The author currently processes payments using Square, PayPal, and Intuit Payflow Pro.

I am writing this article as part of my personal blog series on how to maximize profits quickly with new technology to promote my e-Book "Big Payback In Small Chunks: How The Most Successful Merchant Keeps Revving Up Profits.

In Part 2, I will discuss the pros and cons of how to maximize profits with credit card readers.

Have you implemented credit card readers in your store? Please share your comments below.

The writer is a technology junkie who wants to write an e-book on how to quickly boost profits using new technology to promote his e-Book "Big Payback In Small Chunks: How The Most Successful Merchant Keeps Revving Up Profits."

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Just a Little Note From Your Editor: You can find more articles like this one in our e-Book " Big Payback In Small Chunks How The Most Successful Merchant Keeps Revving Up Profits." It is a great learning tool for boosting your profits by spending on the right things. Bill Nelson, President of Retail Merchant Solutions LLC, also provides training and consulting services for merchants who need help getting their businesses profitable. Call us: 866-254-3013 Visit our website: http://www.retailmerchantsolutions.com

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The post Boost Your Profits Instantly With Your Own Credit Card Reader appeared first on Retail Merchant Solutions, LLC .

By Bill Nelson, Shop Owner - November 2009 I was asked if I would like to review the Square product line and offer my thoughts on them for inclusion in this article series. I accepted the invitation with some skepticism. After all, I am a conservative old guy who has been in the business over 30 years and payment processing has changed a lot since then. I have seen my share of changes in the industry and have been burned by many of them, including having my merchant account services shut down without any warning or explanation. This time, however, we are talking about credit card processing for small merchants who are selling their wares on the internet. That was something that was not even on my radar at my previous job as VP of marketing for ANB Bank, which is one of the largest internet business banking companies in the United States today.

Conclusion

As a result of using the reader, my sales went up by 50% in a two month period. I was able to increase my profit and productivity while reducing my stress levels and improving my bottom line. All of this while keeping my customers happy by offering them the convenience and speed that credit card processing provides. It also has given me direct telephone contact with over 1,500 customers who have questions or need problem resolution. The results speak for themselves; I am a strong advocate for the Square product line. Square is currently available for free download from Apple App Store for all iPhone users with a credit card terminal attachment for about $75 plus shipping . Square is also available on Google Android phones with an attachment priced at $29 plus shipping .