Are you a small business that is sick and tired of people trying to pay with their card when you can only accept cash! Well worry no more because this piece of new technology might just be everything you need for your business.
This new piece of technology is called 'Square'. It is a small white square box which accepts card payments and contactless payments. The 'Square' connects to a smartphone or tablet to enable independent traders to accept other forms of payment apart from cash. The technology is already being used in the USA and parts of the UK however it seems that this could be something really worthwhile for many smaller businesses. The Square also includes point-of-sale software which allows businesses to gather sales data as well as digital receipts and invoices.
But there wouldn't be something like this introduced without a catch, ITV news reported that
Business owners will pay a flat transaction fee of 1.75% for all in-person payments and receive the money the day after the transaction takes place.Betting on small businesses is always the right bet no matter what's happening around them because they are the fabric of the community and the only way that any business can become large and more global"
So maybe this could be something worthwhile