Are Personal Credit Card Readers for You?

Are Personal Credit Card Readers for you? We now have the ability to use Personal Credit Card Readers. These readers such as the "Square" or the PayPal version can be attached to almost any electronic device from our ipads to our Smart phones. These devices give great flexibility. But, we should be asking ourselves if we have a use or need for this in our own lives. You should want to know what the costs to use this new technology is and whether you will have enough use for this device to warrant its added cost to receive money from other people.


The Square Credit Card Reader
 

If you have a business you can sign up online and the Square is free. If you have already purchased  a Square reader the company will refund your money to your business. Why? Because Square is the brainchild of Twitter creator Jack Dorsey who very much wants you to use it. Because every time you run a payment using the Square he gets 2.75%. So now when you are running some one's credit card you may want to add that 2.75% to the sale price. This device is known as Square Register. The company says you will have your money on the next business day.

In the past, it use to be very prohibitive for individuals and small businesses to use a credit card reader to receive payments. But now, you can get this small reader which is about the size of a man's thumb and connect it into the headphone jack of your Smart phone or ipad. All you need is a Web Site and a bank account, there is not even any requirement for you to have a business or a business account and it comes with the App. These readers were only available at Target, Radio Shack, Best Buy, and Apple stores just a short time ago, but now they are available at Walmart for just $9.99. This pretty much puts them into almost every one's hands. The reader accepts payments with Visa, MasterCard, American Express and Discover cards. Square also has an App. to allow you to Make payments to others as well. Square calls this App. Square Wallet.

PayPal Credit Card Reader

PayPal not to be left out, started their own Card reader. It basically works the same way except, it only charges a user fee of 2.70% in order to get your business. Also, you are able to use it through PayPal. If you have a PayPal Merchant Credit card you can withdraw funds on the spot with your PayPal merchant debit card. It also has the added benefit of 1% cash back on eligible purchases made with your card.

If your business has multiple locations or you want to let your employees accept payments in the field or you want to offer additional in-store checkout locations for your customers, you can, by adding the Multiple PayPal Here^tm card reader App. to your account and letting your employees collect payments on your behalf using numerous card readers.

Need, Cost and Use

It's Your Money, so make wise choices!

Mark