Expired Hot Deals

[Square] Square - free mag stripe reader with sign up

  • Last Updated:
  • Feb 17th, 2019 8:07 pm
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Deal Addict
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May 16, 2011
2325 posts
1585 upvotes
Clarington
Also - there are ways to get free processing if you're a new account.
Deal Addict
Mar 5, 2007
2742 posts
2139 upvotes
muffin4life wrote:
Feb 12th, 2019 12:06 am
2.65% swipe fee taken...
Umm, ya, and what do you think other stores pay for clearing? Hint: 2.65% is actually very competitive given the tiny volume.

I wish the public more properly understood how much money VISA/MC/AMEX are taking from all of us with their fees.
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Mar 5, 2007
2742 posts
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Bawler wrote:
Feb 12th, 2019 7:05 am
I sell at farmer's markets. My sales went up over 30% once I started using square.

I use the new square reader now that costs $60 but let's you accept debit (debit is only $0.10 per transaction)
VERY good idea. I rarely have much cash on me. Even artisan fairs and things like that, if the vendor doesn't accept credit/debit cards (Square, traditional POS, whatever) I usually just walk by without looking.

The cost of entry is so tiny there is no excuse IMHO.
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Mar 5, 2007
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indeals wrote:
Feb 12th, 2019 9:38 am
Ordered one, thanks OP... Not sure why the downvotes. If there is a better option then let's hear more about it but will use this for now for odd sales.
Because it's 'regular price', not a 'hot deal'.
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May 16, 2011
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repatch wrote:
Feb 12th, 2019 10:43 am
VERY good idea. I rarely have much cash on me. Even artisan fairs and things like that, if the vendor doesn't accept credit/debit cards (Square, traditional POS, whatever) I usually just walk by without looking.

The cost of entry is so tiny there is no excuse IMHO.
I'm at the point now where I actually will give cashback so people can buy stuff from vendors who don't accept credit/debit.

Buy a piece of fish (I sell smoked fish) using credit/debit and I'll give cash back provided the transaction is below $100.

Keeps people spending at the market instead of the grocery store.
Newbie
Nov 24, 2009
87 posts
142 upvotes
Cornwall, ON
Bawler wrote:
Feb 12th, 2019 9:11 am
I sold over $20,000 using Square last year at farmer's markets. I'd say the amount of people that I had to send away because they didn't have tap was in the single digits.
I'm not saying it's not worth it. It's definitely worth getting it however my experiences were much higher. I would say that at each event I attended in the past year there are between 2-5 people (out of about 100 customers) that when I mention debit tap versus debit they can't or don't want to pay via that method and chose cash instead. That number will probably reduce but It's made me say Debit tap instead of simply saying debit.

Again, completely worth getting the debit tap device. Just my experiences.
Sr. Member
Jun 26, 2007
636 posts
378 upvotes
ericw wrote:
Feb 12th, 2019 9:55 am
2.65% is actually very good for casual use without equipment fee or monthly fee.
2.65% is a good rate regardless of anything, you're not going to be below 2% unless you're huge volume and square makes it easy to use it for tiny transactions. They basically created an entire market for their product by charging very competitive rates.

I can completely understand people who don't carry cash, I attempted to go all of last year without spending any cash and ended up with 2 cash transactions the entire year. It's been months since I've spent any cash. I can especially see it making sense for women who don't want to carry a bag because a lot of women's clothing either doesn't have or has pathetically small pockets.
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Jun 20, 2006
1977 posts
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Bawler wrote:
Feb 12th, 2019 10:49 am
"I'll give cash back provided the transaction is below $100."
but you are paying 2.65% on the entire transaction now
and have the risk that they may file a charge back increasing the potential lost

still good deal, not hot but warm at least
For sale threads:
GCs / Coins
Cloth / Phones/
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May 16, 2011
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redkid wrote:
Feb 12th, 2019 3:22 pm
but you are paying 2.65% on the entire transaction now
and have the risk that they may file a charge back increasing the potential lost

still good deal, not hot but warm at least
On $100 I'll pay a maximum of $2.65 and I make more than that per purchase.

I refuse to let the threat of dishonest people stop me from doing something beneficial for my community/friends/coworkers.

If someone decides to do a fraudulent chargeback on $100 then they very likely need the money more than I do.
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Jul 24, 2005
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Bawler wrote:
Feb 12th, 2019 10:49 am
[...]I'll give cash back provided the transaction is below $100. [...]
I hope you give cash-back only for debit card charges (where the transaction fee is only 10 cents anyway).
To give cash-back on a credit card charge is a violation of the TOS.
Sr. Member
Aug 17, 2003
834 posts
168 upvotes
Toronto
I get paid infrequently but in large amounts (usually around $5-9k) never more than 20 transactions in a year - any suggestions on a reasonable service for low volume large sales?

Right now I make clients pay using cheques but I keep getting requests for credit cards. I don't mind some fees but paying hundreds on every individual transaction is not the most appealing.
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Lord Denning wrote:
Feb 12th, 2019 11:41 pm
I get paid infrequently but in large amounts (usually around $5-9k) never more than 20 transactions in a year - any suggestions on a reasonable service for low volume large sales?

Right now I make clients pay using cheques but I keep getting requests for credit cards. I don't mind some fees but paying hundreds on every individual transaction is not the most appealing.
Why not just do etransfers?
Sr. Member
Aug 17, 2003
834 posts
168 upvotes
Toronto
Bawler wrote:
Feb 13th, 2019 12:01 am
Why not just do etransfers?
E-transfers have daily and weekly limits that are typically not sufficient. More importantly I suspect the client wants to get points on a large purchase. Understandable.

I wish someone offered a fixed transaction fee for credit usage or a cap (e.g. 3% of the sales price until a maximum of $25.00 or something) - is there anything like that in the market.
Sr. Member
Dec 25, 2017
630 posts
492 upvotes
CrazyJo82 wrote:
Feb 12th, 2019 2:28 pm
Just so you know... when you swipe... you will be liable for chargebacks and you can't win.

The liability shifts to merchants if they use a mag stripe back in Oct 2015.

https://www.newswire.ca/news-releases/v ... 46782.html
Well if the volume is enough to justify the cost, one can buy that $60 reader. What still confuses me about it is that it can take chip credit cards but no chip debit cards, I understand it's probably a technology limitation of the PIN pad or something (like venting machines?) but would be nice that it'll be resolved.

For all the people taking $5 purchases at the next local event with swipe only, be happy to know that up to $250/mo of chargebacks are covered provided that you can provide information about the transaction, even if it's resolved in the cardholder's favour.
https://squareup.com/ca/payments/chargeback-protection

Edit: also if you do get a mag reader, sometimes Amazon put the reader ($10) on sale and, since they deposit $10 back to your bank account, you get paid a little bit to get one too!

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