Square dominates the small food and drinks arena in the US, thanks to its highly portable devices and feature-rich POS application – plus specialist features like tipping and dining options. The company faces more competition in the UK food and drinks sector where other payment providers are already established with smaller businesses, but we expect Square to take a larger chunk of this industry here as time goes by.
We also recommend Square for smaller retailers, mobile professionals and other businesses in the hospitality sector, such as pubs and B&Bs.
The ease-of-use you get from Square devices and software makes this a great option if you’re not particularly interested in technology and simply want to accept payments without fuss. Or, if you expect to be training staff to accept payments and want one of the simplest platforms on the market right now.
The key thing to keep in mind is that Square is designed for smaller businesses with a low volume of card transactions per month. If you’re accepting more than £1,500 worth of card transactions every month, then you’ll get better fees per card transaction from a payment service that caters for higher volumes.
As a final note Square doesn’t offer payment services to businesses considered “high-risk”. The company has a fairly long list of prohibited goods and services, includes anything illegal and businesses in the adult or gambling industries – plus certain types of pharmaceutical, marketing, financial and legal services.