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Phoneswipe Mobile Payments

Phone Swipe vs. Square

The following are undisputed differences between Phone Swipe and Square. It's a bit long, but an informative and worthwhile read.

#1 Rates
The Phone Swipe “Pay-As-You-Go” option is 2.69%. Square’s is 2.75%. Both include free device, no monthly or annual fees, and no contract. However, with Phone Swipe you are not stuck paying the high rates of the “Pay-As-You-Go” plan like you are with Square. There are “high volume” plans available with a traditional merchant services account that allow you to accept credit cards through Phone Swipe with rates starting at .25%. Once you’re doing a volume where lower rates would be beneficial, you just transition over to a traditional merchant account and continue using the same device.

#2 No Held Funds
Square is not a merchant account and users will have less control over their money. Square is similar to the third-party payment site PayPal and will hold any processing funds over $1000 for up to 30 days. In some cases, 45 days. Banctek offers next day funding on processing funds.

#3 Service and Support
Square only provides service and support to its clients through Twitter and E-Mail! NO phone number (Square is unaccredited with the BBB). Phone Swipe provides full 24/7 live customer support combined with a dedicated service representative to take care of your business.

#4 Compatibility
Square is only compatible with Apple iPhone (3GS, 3G, and4), iPad, iTouch (2nd gen), and certain Google Android devices. Phone Swipe is compatible with hundreds of different cell phones including BlackBerry.

#5 Dependable Device
The Phone Swipe is hailed as the most dependable device on the market. Square’s device has a reputation of being notoriously unreliable, causing merchants to have to manually-enter transactions which results in higher rates.

#6 Security
The Phone Swipe card reader is fully encrypted for the protection of its owner and the consumer in such a way that it can only be decrypted by secure payment server. This allows you to accept credit cards safely and securely. Square on the other hand does not provide an encrypted device and it has been proven that anyone with moderate technical skills can easily convert the device into a card skimmer in less than 90 minutes!

#7 QuickBooks Integration
The Phone Swipe app integrates with your QuickBooks account flawlessly to keep all accounting simple.

#8 Inventory
Phone Swipe allows for inventory control with its real time inventory capabilities. This is a function that square only offers on the I Pad app.

#9 E-Mail Capture
The Phone Swipe mobile application allows its owner to compile a database of all its customer’s email addresses. This can be extremely useful in future marketing efforts

#10 Cash Payments
The Phone Swipe mobile application allows for recorded cash payments with email receipts.

#11 Tips
The Phone Swipe mobile application allows for either a flat percentage tip or enables the customer to enter a custom amount. This ensures that you are making as much as possible.

#12 Multiple Terminals
With the Phone Swipe your business will have the option to utilize multiple terminals on one merchant account and to track those terminals independently.

#13 Store and Send Capability
Since the Phone Swipe device and app are fully encrypted it has the capability to accept payment even when you are out of the service area and send for approval at a later time when you do have service.

#14 Discounts
With the Phone Swipe mobile application you will be able to ring up an inventory item and add a percentage or dollar amount discount on the checkout screen.
North American Bancard is a registered ISO/MSP for HSBC Bank USA, National Association, Buffalo, NY.
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