Sunday, February 17, 2013

Square vs. Paypal

My brain is on overdrive lately.  In fact, last night I had to take some time and just sit and do nothing.  Really, nothing.  I needed some time to just deeply relax.

 I did sneak in a few chapters of Danielle LaPorte's Firestarter Sessions.

This morning I woke up feeling great and ready to share about my Square.

My Square

My "Square" arrived, which is a mobile credit card reader.  I had already downloaded the app. on my Iphone and was very excited to get started until I set up my online Paypal account (jewelry page) and noticed that they also have jumped on the mobile card reader bandwagon and are in fierce competition with Square.  

So, I did a little comparison and found...

Both work with iphone or android.  Both allow point-of-sale swiping of the 4 major credit cards and link right to your account.  Both send you free readers in the mail.  Here are the sites to review for yourself:

Square: Square Site

Paypal: Paypal site
(Paypal has a comparison breakdown of 3 mobile reader applications)

After the bit of research, I've decided to go with Paypal, even though I just ordered my Square, and here's why:
It's cheaper:  Paypal is  2.7% per transaction vs. Square's 2.75%
Square charges more (3.5%=.15 cents per transaction) if you have to manually enter the card too-I couldn't find info. on Paypal's policy on manual entries.  
Square does have the option of a flat $275.00 per month fee if you have a lot of transactions.
It's faster: Deposits are made on the same day of sale.  
It accepts more forms of payment: You can accept paypal and checks in addition to the 4 major credit cards
It helps with billing and tracking: You can send invoices and track cash payments with the Paypal app. 
More than one person can use it: You can have multiple user accounts so if you have more than one person selling for you, each person can link to the account at the same time.  
Loyalty: I have a history of using paypal and I like them

So, now I need to add "Order Paypal reader" to my list of things to do this week.  I'm on vacation and intend to get things really rolling so stop back and see!


Robin said...

wow thanks for all that info..that is really great now I know I will go through paypal..I just saw and found you from magically mixed and commented on your gorgeous work..!Nice to meet you..!

Kelly D said...

Thanks Robin, I thought I responded to this a while back but it doesn't look like it posted. I love your site as well, it seems we share a love of vibrant color!

Merchant Services said...

Thank for the side by side comparison! i was wondering how your experience with PayPal's customer service has been?