Reputable online payment solutions such as PayPal and Moneybookers are well established in the world of freelance work. However until recently, many independent contractors may have been reluctant to handle credit transactions themselves due to banking contracts and processing fees. That is no longer a concern with Square, co-founded by Jim McKelvey and Jack Dorsey in 2009. The company is headquartered in San Francisco with additional offices in Saint Louis and New York City.
Square's credit /debit card processing fees are static flat rates, accepting Visa, Mastercard, Amex and Discover. That's it! There is no activation, gateway, monthly, early termination, hidden fees or any additional costs to use. Square also does not require a contract upon sign up and since they only charge per transaction, it doesn't cost you anything if you don't use it!
The application process is quite straightforward, only requiring (1) a US based bank account, (2) a US based physical address, (3) Social Security number, and (4) EIN number (optional for businesses only). Once approved, Square will provide a free card reader within 1-3 weeks.
Square's download app enables accepting cards by simply plugging the card reader into the ear phone jack, and then swiping the card. Additionally, the app allows the option to accept payments manually by entering card information for phone, mail, or internet orders.
While receiving payment for your CAD work is always rewarding, it's now much easier with Square! With a free card reader that accepts all credit cards, and with no hidden fees, commitments, extra equipment, complicated contracts, monthly fees or merchant account required, Square is a revolutionary method for the CAD contractor to accept credit cards directly!