On 29th April 2014, Square announced three new ways for merchants to simplify their operations as well as drive more customers to their business. Good to see a company always thinking about pain points of merchants. We had been long anticipating the inclusion of more features such as offline, order it ahead and pickup tool apart from the inventory tracking feature.
- The new pickup feature integrates perfectly with Square Register. This implies that merchants can fulfill customer orders in-person as well as online.
- Merchants can now run their rush hours proficiently and provide a better customer experience, states their blog.
How does it work?
- The pickup feature is available to all merchants at 8% processing fee per order.
- An introductory offer places this figure at 2.75% until July 1st.
- Setup as well as Access is free of cost, and merchants receive payment the next business day.
- In this mode, merchants can utilize Square’s mobile register as well as accept credit card payments, when the Internet connection is down.
- Square processes payments swiped offline when a connection is reestablished, keeping a consistent experience for the buyer and seller.
Most systems I looked at that could take payments offline were just credit card terminals—they didn’t have the full point-of-sale functionality that Square Register does, said VP of Operations at FlipBelt, Erik Jeffries.
One company that had what I needed quoted me nearly $20,000 for the system—it’s amazing that Square offers Offline Mode in a free app, he added. The company required a method of taking credit card payments at marathon expos and other fitness events with no connectivity.
- Inventory Tracking was one of the most requested features by Square customers, according the company’s blog.
- It enables merchants to track their item stock while selling online as well as in person, free of cost.
- Merchants can manage their inventory via web dashboard. This includes setting up stock alerts to ensure they do not fall short on inventory.
Every other system we researched was either too in-depth, too expensive, or didn't have 'on-the-go' entry capabilities that our mobile business requires,' Mobile Retailer Shop The Styliner’s, Sara Droz stated. 'Square inventory has alleviated our time-consuming manual inventory burden without disturbing the seamless, easy checkout process through Square that our customers have come to expect and enjoy.'
- On 1st April 2014, Square announced that Bitcoins could now be utilized to purchase goods and services via Square Market.
- Square’s integration with Coinbase means that online merchants who already use Square Market can now accept Bitcoin with a single click – this could have significant impact on the cryptocurrency world.
- However, merchants will not be allowed to retain the Bitcoins sent by their customers. Rather they will be converted into dollars instantly.
- This is a good move in the direction towards enabling Brick and Mortar retailers such as KFC and Starbucks to accept Bitcoin payments in the future.