A lot of small businesses started by using Square for payment processing. But many of these businesses seem to be outgrowing what Square has to offer.
It is generally easy to tell when a company is starting to outgrow Square, because the processor offers limited usage that may not be enough to handle the needs of a business as it grows.
Moving on to a better payment processor that provides more value can be the right choice for the business – and for the customers.
What Does Square Offer?
Square made a big splash within the payment processing market when it first became available in 2010. It was a great choice for very small businesses, because it allowed them turn their smartphones into credit card readers, reducing the need to spend a lot of money on a credit card reader or processing service.
However, Square was also relatively limited in what it could do, and the costs could be high. It was a solution that worked, but often proved to be a less-than-ideal one – especially for businesses that began to grow and need more than the use of Square on their smartphone.
Why Do Businesses Outgrow Square?
Most businesses outgrow Square through actual company growth.
Not only does using Square for a large number of transactions become difficult, it can also be expensive. If you generate anything over only around $2,000 in transactions in a month, using Square already costs more than a standard payment processor.
If a business is doing well, it wouldn’t be surprising for that company to have their transactions add up to more than $2,000 in a month’s time. When a business needs to process a much larger number of credit card transactions, Square simply isn’t going to handle that without a high level of expense that your company doesn’t need.
Payment Processing Has Other Options
Outgrowing Square is a great thing, because it means that your business is doing well and that you are processing a lot of transactions each month. And, fortunately, there are payment processing options other than Square. By choosing another payment processing option, you can get more value for the money you’re spending.
You will also be able to offer a better experience to your customers, because you can process transactions faster, more easily, and with less downtime.
Change can be hard. Breaking up with Square might seem a little scary, especially if you have been together a long time, but moving on to something bigger and better can be an exciting time for you and your company. As you move forward and your business continues to grow, you can offer even more to every customer who comes through your doors.
Happy customers are repeat customers, and ones who will tell other people about what your business offers. You want your customers to get everything they need from your business.
When they can’t do that with Square, it’s time to make a change.