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Currently, only 75,000 merchants are using the service, but it’s sure to catch on.
Pay Pal has a copycat service in place called Pay Pal Local, and many others are sure to follow. Inform your clients that you use the system, and encourage them to sign up for an account.
However, it makes it much more convenient and accessible for your business needs.
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Keep in mind there may still be a paper trail associated with this process.
You won’t be able to hide income, as it shows up as credit card transactions into your holding account.
Introduced by the same company that is revolutionizing the industry with the Square, Pay With Square is a system that utilizes i Pads as registers and phones as your wallet.
Here’s how it works as a consumer: Merchants an utilize this service to easily process charge transactions and get their money easily and quickly.
They charge a flat 2.75% for each transaction, with no monthly fees, no setup fees or other charges that are typically incurred with accepting credit cards.There are no concerns about variable transaction costs, nor are there equipment fees. When you use the Square to accept a credit card payment for your services, the money is directly deposited into a holding account that you can link to your own bank account for later use.The money is deposited every day, by the next business day, so you don’t have to wait extended amount of times to access your funds.There are several copycat versions of the Square around already, with surely many more to follow.Intuit currently uses a version called Go Payment, but it uses, reportedly, a much more complicated rate structure for the different credit cards.