When Jack Dorsey develops something you know it’s going to be good. The Square mobile card reader certainly falls into this category. The card reader offers a vendor the ability to collect payment anywhere from anyone with a credit or debit card. Today, Square is debuting inventory tracking for merchants, offline mode, order ahead and its pick up tool.
This news should not come as a big surprise because in February Square acquired BookFresh to add booking services for merchants. BookFresh is an online scheduling service with a focus toward small business—Square’s initial niche.
Recently, it became public knowledge that Square was further developing its Point-of-Sale system. Square was testing a tool for merchants to order ahead and pick up. This still functions in the original Square app, but not for long because a separate pickup is in the testing stage of development.
Square reports success in New York and San Francisco in its new venture. The success comes from the ease of use. Hop on the tool, order dinner from your favorite restaurant, and either pick it up or wait for delivery.
Image via MobileMarketingWatch
Square reported people using the tool to pre-order Valentine’s Day Gifts for pick up.
Of course, Square is charging a premium for this service. It is opening at a 2.75 percent processing fee but by July 1, 2014 it will pop up to an 8 percent processing fee. The fee includes setup, a free storefront on Square Market, and full integration into the business’ register. The best part is sellers receive the funds the next business day.
A few other points of interest are the new inventory tracking feature and offline mode. All inventory tracking can be managed through the Square dashboard—the system allows business owners to set up alerts to prevent running too low on inventory. The offline mode affords users the ability to swipe credit cards without an internet connection—this matches the offering by most mobile credit card readers. Square’s free app in addition to of point-of-sale functionality is what separates Square from its competition.
These transformations are just another iteration of evolution from a company built on its innovation. As these upgrades are released to the general public more are on the way, primarily the ability to accept split currency (credit and cash at the same time).
The Square reader offers high mobility and ease of use at an affordable rate—starting to sound like being “square” is the smart and dare I say, cool thing to do.
Edited by Stefania Viscusi
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