How Does Square Credit Work?


Quick Answer

Square is a mobile payment service that works by enabling customers to make financial transactions, such as making purchases, selling products and sending funds, using their Android or Apple mobile devices, explains HowStuffWorks. Business owners receive a free card reader that allows customers to swipe their cards to make purchases.

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Full Answer

To use Square Register, business owners should download the application on their smartphones, register an account on the Square website and wait for the free physical card reader from Square, as HowStuffWorks instructs. Plugging the card reader into a smartphone's headphone port allows people to start using Square Register to receive payments. Business owners can also enter a customer's account number manually to process a transaction.

Square typically deposits payments into a bank account within one to two business days, notes HowStuffWorks. The company charges a fee every time customers swipe their cards to pay for purchases. Business owners may also opt to pay a flat monthly fee.

Square Wallet is a free app that lets shoppers make payments at various shops and restaurants, and it also allows them to find local businesses accepting Square Wallet payments using the built-in GPS in smartphones, according to HowStuffWorks. Using Square Cash to send money to others involves typing in the recipient's name, typing Square's email address in the CC, writing the amount, composing a message and pressing Send.

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