Square Terminal Review 

About Square 

Block Inc. is a U.S. financial services and money transfer firm with its headquarters in San Francisco. The company was once known as Square, Inc. and was established in 2009.

Square offers a variety of powerful card readers with innovative features. These include its countertop POS system and portable credit card reader as well as an array of options like a high-resolution screen and built-in receipt printer.

Accepting credit card or contactless payments anywhere, with very simple installation and use: this is the promise of the Square Terminal and it is fulfilled.

The product that gives the firm its name and caters to small companies is still known as “Square.”

Square is a point-of-sale (POS) platform that facilitates the acceptance of credit card payments by businesses of a smaller and medium scale.

Additionally, the platform enables these firms to use iPads and tablets as terminals for a point-of-sale (POS) system. Square is oriented at small businesses.

The company has since gone on to offer various products and services for businesses apart from the Square Terminal including the Square Stand, Square Register and the Square Tap and Chip Card Reader.

The Square Terminal is designed to bridge the gap in Square’s line of products between mobile POS readers, bring your own device plans, and worktop POS systems that include all of the necessary hardware.

It is intended to be used in conjunction with either the Square Stand or the Square Register. To help you see the distinctions more clearly, here is a comparison table of 4 of the main Square POS products:

POS	Square Terminal	Square Tap & Chip reader	Square Stand	Square Register
Style	Portable	Portable	Stationary	Stationary
Hardware price (ex. promo)	$299	$49	$169 for Square Reader (iPad separate)	$799
Monthly subscription	$0, $29 or more	$0, $29 or more	$0, $29 or more	$0, $29 or more
Process fees	From 2.6% + $0.10/payment	From 2.6% + $0.10/payment	From 2.6% + $0.10/payment	From 2.6% + $0.10/payment
Charge dock	Yes	$29	Yes	Yes

The Square Terminal reader in detail

The Square Terminal is meant to bridge the gap between a stationary POS device and a mobile card reader: It can double as either — or both.

Similar to a conventional payment terminal, this mini-terminal allows businesses to: 

• Read and accept bank card payments
• Accept contactless payments
• Accept NFC payments by digital wallet (Apple Pay, Google Pay) 

Note that it is necessary to have an internet connection for your Square Terminal. There are two ways to connect Square Terminal to your network: Wifi and Ethernet. There’s no support for cell phone data connections.

You can connect to Wifi through Settings > Hardware > Network. Or you can hard-wire through the Ethernet port on the accessory hub.Keep in mind, To connect your Square Terminal via an Ethernet cable, you’ll need to purchase a Hub for Square Terminal.

In terms of ergonomics, you will appreciate its small size compared to traditional payment terminals, which can be rather large and heavy. 

The Square Terminal is a credit card processing terminal that has measurements of 5.6 inches in length, 3.4 inches in width, and a height of 2 and a half inches. It can easily be held in one hand, and clients like it.

Cards may be swiped or tapped utilizing the contactless feature, or entered via the underside of the POS, which makes it more ergonomic than other mobile POS terminals. Additionally, cards can be placed into the bottom of the device.

The Square Terminal 5.5-inch screen means it is big enough to comfortably enter the customer’s pin code whilst the screen is still very readable, regardless of the level of brightness.

Square also promises that the machine is built to last, even utilizing shatterproof glass, giving you worry-free operation at even the busiest locations.

Cards accepted by Square Terminal

Card type	Accepted?
Debit cards	Yes
Credit cards (Visa, Mastercard, American Express, Discover etc)	Yes
Digital wallets (Apple Pay/Google Pay, Samsung Pay)	Yes
Gift cards	Yes

Square makes it possible to accept almost all cards, including international cards and this is one of its many advantages. 

Mastercard and Visa typically allow tap limits of up to $250, introduced post-pandemic, ensuring fewer consumers need to touch payment machines. This can vary depending on the card provider. The practice, which saves time for each transaction, has seen its use soar since the pandemic. 

For your customers who require it, Square Terminal also allows you to accept mobile payments (Google Pay, Samsung Pay and Apple Pay). 

Square Terminal: Pricing and Commissions

Square’s fees are simple to understand and very competitive compared with similar companies.

So how much does Square cost? That depends on what you plan to do with Square. Are you only processing transactions in person? Do you sell online? Do you use the virtual terminal or card-on-file features? Do you want any of the software add-ons?

Square Terminal’s pricing is clear and transparent:

• $299/unit or $27/mo over 12 months with financing
• $0, $29 or more depending on monthly software subscription fee (per the plan chosen)

For payment processing costs, Square charges:

• From 2.6% + $0.10 per transaction for Square POS and Square For Restaurants
  • Square For Retail is 2.6% + $0.10 and 2.5% + $0.10 for the paid plan
• 3.5% + $0.15 for manually entered transactions 
• Variable processing fees 
• Variable monthly fees and annual fees

Square Terminal allows small businesses, freelancers and retailers to escape the old pricing of payment terminals with its simple model: Terminal purchase with software and transaction fees.

Fees are only paid for successful transactions and there are no price differences for accepted credit cards. 

It’s also good to know that there are no fees for Activation, Refunds, Chargebacks and issue management and Support. 

Similarly, there are no fees for App downloads, Advanced reporting tools, Account inactivity

PCI compliance, Account takeover protection, End-to-end encrypted payments, Active fraud prevention, Next-business-day deposits and Deleting your Square account. 

Finally, note that the following services are offered with the purchase of the Square Terminal terminal & free monthly plan:

• Flex handheld POS with built-in receipt printer
• Payments plan with 24/7 live support
• Accept swipe, dip, tap, and contactless payments

Who is Square Terminal for?

The Square Terminal can work with a variety of business types, from restaurants to retail and is a  good solution for many small firms that are starting up, or have limited credit card transaction volumes or who work on the move.

Square Terminal can be particularly useful for:

• Retail stores
• Quick service dining
• Cafes, restaurants, boutiques, convenience stores, shops, clothing stores and merchants
• Home & field services
• Personal services
• Professional services
• Hairdressers and beauty salons
• Couriers, drivers and taxis

Most of Square Terminal’s target audience are smaller businesses, as noted above. Some activities are not accepted by Square. These mainly include industries that are restricted including gambling or unlicensed professions. 

Square Terminal order process

On the Square website, there is a registration form that users may fill out online to sign up for the service.

Customers have the ability to specify their needs, which may include whether or not they needed a hub in order to obtain connectivity to the internet through Ethernet and to insert other USB peripherals, as well as whether or not they require extra receipt sheet rolls for receipts.

Other accessories that can be added to your order include receipt printers, cash drawers, barcode scanners and belt clips. 

Shipping the card reader is free and can take 3-4 business days after validation of the opening of the account. Expedited shipping can ensure your terminal is delivered in 1-2 business days. 

We recommend that you plan to purchase your Square Terminal payment terminal at least 7 working days before you need it.

Square Terminal setup

Customers will receive your pre-configured Square Terminal, typically arriving pre-charged with 50% battery. There is no need for a technician, so you can carry out the setup by yourself in approximately 10-15 minutes. 

To get started:

• Turn on the device 
• Accept the Terms of Use
• Connect to the internet (Wifi or ethernet) 
• Plug the power adapters into your mains
• Sign in to your Square account (on Square Terminal or on your laptop)
• Open the printer door & add receipt paper
  • Test your printer (Settings > Printer > Test Print)
• Use the Accessory Hub to add accessories (Barcode Scanner or Cash Drawer)
  • Plug the Accessory Hub into your Square Terminal
  • Plug your accessories into the USB ports on the Accessory Hub
  • Plug in your Hub

After fully charging, the device should last for up to 8 hours for the average SMB.

How to receive funds from your Square Terminal transactions

Square gives you a range of choices on where and when you will get your payments, including the following options:

• Standard transfer timetable for the next working day
• Personalized timetable for the move (customized per your company hours)
• Adding money to the Square card by making a transfer.

There are no transfer limits, either standard or custom, that are imposed by Square, and the company does not withhold funds based on the total amount transacted, the number of payments, or the kind of business that is being performed.

Transfers on the next business day

Square will transmit cash according to their usual timetable after you have activated your Square POS account, linked a checking account, and begun taking card payments.

When a transaction takes place, monies are typically sent within either 1.5 days or within 1-2 working days after the event.

Custom transfer schedule 

You are able to choose the time that transactions are gathered for daily transmission, which is useful if the hours of operation at your company are not standard. This is referred to as your nighttime time period.

Setting a time for the end of the business day guarantees that you will get a singular transfer for all of the payment activity that occurred during the business day, which makes maintaining the books simple.

Adding cash to a Square Card

A bank account that provides you with rapid access to the proceeds of your Square transactions is called Square Checking.

When you use Square Checking, the proceeds from any purchases processed via Square are made instantly accessible for spending on your Square debit bank card or by using your account and routing details.

Instant transfers

Utilizing Square’s rapid transfers will provide you with access to your funds the quickest. Instant transfer might be helpful in those situations in which you have an urgent requirement for your money.

However, there is a cost of 1.5% every transaction for using this premium service.

Transactions on the same day

The processing time for same-day transfers is comparable to that of immediate transfers, but without the associated difficulty. Same day remittances may be an option for you to consider if you often require your money sooner than 1 – 2 working days.

With this option, your money will be sent automatically at the end of the business day.

A fee of 1.5% will be assessed for each transfer made before money are sent to either your associated corporate bank account or debit card. Every day, 15 minutes after the end of your business day, the monies from your account will be automatically sent to the connected debit card.

You need to have a minimum deposit of $1 after Square’s fees in order to utilize the same-day transfer feature. You are able to transfer payments of up to $10,000 in total.

Manual transfers

From Sunday through Thursday evenings, your money will be deposited into your bank account automatically as a matter of course. You have the option of enabling manual transfers rather than automated ones, giving you more control over when your money is sent.

Your money will be accessible in your Square account, and you will have complete control over when it is sent to the bank account you connected to Square. After that, the monies you requested will be deposited into your bank account on the next working day at no additional charge.

How to take payment from customers with the Square Terminal

Simply enter the amount, and the customer will do the rest as on a conventional terminal: insert their card, type their pin code and validate.

A green tick confirms the success of the transaction and it is also possible to print the credit card processed receipt with compatible printers.

To charge the terminal, use the included cable and plug it into a computer or electrical outlet. Plug it into a computer or electrical outlet. It can be put to charge on or off or whilst in use which is convenient. Once charged, you’ll be able to enjoy up to 500 transactions on a single charge. 

Finally, you will be notified if the payment terminal software is updated. Updates are quite simple to perform and an update check is even performed by default when your device is connected to the application. 

Square Terminal features

The Square Terminal runs the full Square POS and is compatible with the Square Stand and Square Register. 

If you need a full-fledged register/countertop POS system, you can get that and use the Square Terminal devices as a supplement. That means orders created on one device can be completed on the other, which is important if you’re dealing with mobile hardware and mobile staff.

Contactless payment

Like any good mobile payment terminal, Square Terminal allows you to accept:

• Contactless payments
• Payments by digital wallet (Google Pay, Apple Pay, Samsung Pay)

This feature is highly appreciated by small traders because it saves a lot of time and avoids lines.

Payment processing

Every Square account comes with the default option to ring up in-person sales through the POS app. You can also opt to set up a virtual terminal, invoicing, online sales, and donations for free. You can also offer customers the option to pay with gift cards.

You can also set up e-gift cards for free through Square POS, though you’ll pay 2.9% plus 30 cents for every electronic gift card you sell. Square also offers options for physical gift cards, depending on your need.

Any one of these characteristics may be added, altered, or removed at any moment at your discretion. With Square Online, “Sell online” refers to more than only online retail sales of products and services.

By selecting this alternative, you will also be able to provide order ahead, roadside collection, and cashless in-store ordering via the use of QR codes.

We strongly suggest that most companies go with the selling online add-on because:

• It’s completely free
• Pickup orders help to ease congestion at the retail location.
• Customers have the ability to purchase according to their personal preferences and preferences when there are more possibilities.

On the other hand, the Square Terminal gives you access to a wide variety of options relating to transactions on the device itself. These settings include taxes and tips.

Integration with back-end Square software

You can run your entire business through a single and compact device, without having to log into a separate tool. The full inventory management and eCommerce system is available through the Terminal for small business owners.

Simple mobile payments processing

The Square Virtual Terminal makes it extremely easy for you to process payments made with your mobile device. The Square Dashboard can only be accessed by businesses through a browser connection, thus this step is required.

If you have access to a network connection, you will be able to utilize any device that has an internet browser installed on it.

After you have logged onto your business account, choose the Virtual Terminal option, and then select the “Take a Payment” button from the drop-down menu that appears. You may input your card data here, including the following:

• Location of the report
• Amount of the order or transaction
• The card’s expiration date is listed here.
• Number of the card
• Either the CVV or the CVV2

Open Tickets

Through the use of the “Open Tickets” option, you will be able to sync your checks instantly with both Square for Restaurants as well as the Square Terminal.

When your servers log in to Terminal, they will have the ability to see any open guest checks thanks to the Open Tickets Menu Home Screen.

You are able to add tips, however unlike the Square for Restaurants app, they will not be added automatically. Tipping is not automatic while using Terminal; rather, it must be managed directly on an individual basis.

Connect multiple Terminals to a cash drawer

Businesses can also connect multiple terminals to a cash drawer at no extra software subscription costs. 

Receipt management

Printing the customer’s receipt is straightforward as the Square Terminal has a built-in receipt printer and therefore doesn’t require an external receipt printer.

Integrations with other Square products

It’s possible to utilize some functions of Square for Restaurants and the Square Terminal. You’ll need to have Square for Restaurants enabled on a compatible device, such as the Square Register. 

Security

Square Terminal includes up-to-date security features to help prevent fraudulent transactions and other security issues. Dispute management is also included as part of the Square Terminal experience.

From the time a consumer pays with credit card or enters data into one of Square’s products until it enters Square’s transacting environment, the data is secured. As soon as they use their credit card to make a purchase, they are safeguarded.

Their bespoke tokenization approach guarantees that unprotected payment data is never sent to your application or device under any circumstances.

Square employs both deep learning and human experience to analyze your payments and keep a look out for fraudulent activity. This service is provided at no extra cost to you.

Support and Customer Service

Customers that use Square Terminal are eligible for phone help around the clock. That is a tremendous aid, even if just for peace of mind, particularly for businesses that provide food service or retail goods and operate on weekends.

You may speak with a customer care representative by calling 1(855)700-6000 or by using the Live Chat feature on Square’s website, which connects you with an automated support assistant. If you have any questions, there is a comprehensive FAQ area on the website, as well as a variety of material and video tutorials available online.

Customers who use the free program have accessibility Mon to Fri from 6am to 6pm PT with an user code, and they have access 24 hours a day, seven days a week for specific situations.

In the event that you do find yourself in need of Square’s direct assistance, the company’s Support service has a solid reputation for being both kind and competent.

Square Terminal: Customer Reviews

Square does have a page on Trustpilot, but it’s not specific to the Square Terminal. Square Terminal reviews are generally positive with a 4.4 score out of 5 from 3,500 reviews, with customers appreciating Square’s speed of setup and time it saves its customers. 

There are various negative user reviews including account closures, possibly for T&C’s violations and software glitches with some noting the software would occasionally stop working for a brief period.

Square Terminal: Overall verdict

In general, the Square Terminal is an excellent option for small and medium-sized businesses because to the breadth and depth of its capabilities, its user-friendliness, its capacity to integrate with some other Square products such as Square for Restaurants, and its in-built customer management system.

It is possible that the device functions most effectively as an addition of the Square system instead of a standalone device; however, the device is capable of operating on its own as well, depending on the needs of your company and the preferences of those who prefer the portability option available with their POS card reader.

Square Terminal is aimed not only at restaurants of all types but also at service firms with physical locations as well as proprietors of small shops who are interested in purchasing a credit card terminal that has a professional appearance.

In addition to mall kiosks, hairdressers, barbershops, and nail salons are able to deliver the Square terminal directly to the consumer, eliminating the need to bring the customer to the front of the establishment to pay.

With 24/7 phone support, decent pricing, no data plan requirements and its portable nature, Square Terminal packs a powerful punch for any SMB or entrepreneur.