There are no monthly fees to use Square, and the reader is free. The reader is a small white square that fits in the audio jack at the top of the phone, so you don't have to remove your iPhone's protective case to use it. You swipe your card vertically to the phone through its small slot. Another plus is that Square's fee schedule is dirt simple: 2.75 percent of all transactions where you swipe a card. If you don't swipe them through the reader, the fee jumps to 3.5 percent plus 15 cents per transaction.
Square works with a wide set of devices and credit cards, including the original and latest iPhone, and the iPad; there's a version for Android as well. With Square, you can accept Visa, MasterCard, Amex, and Discover credit and debit cards.
For your first high-fee transaction (above $1,000) each week, Square will pay you the initial $1,000 and hold back the remainder for a month. The company will review your account and adjust the limit if you send an email and ask nicely. That is the biggest drawback to an otherwise simple service.
Speaking of which, Square's support is limited to emails and what you can glean from their Web site. There is no phone support. That is the other drawback, although really in our experience things just worked as intended.
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