Square Credit Card Reader Versus PAYware Mobile Encryption Sleeve

The Square credit card reader has been getting a great deal of attention these days, giving rise to many questions here at PaymentMax about the differences. Here is a look at the differences between the Square credit card app and reader and Verizon PAYware Mobile encryption sleeve and mobile credit card processing app.

1. Transaction Disputes-Square has known issues with transaction disputes. First, if  you have the tip function enabled customers will see a 40% increase on the authorization of their card. Customer’s are generally not happy with any authorization over the amount of the purchase. This can spark disputes.

Second, if a transaction was not completed using Square. The transaction authorization may pend on customer’s bank account for a few days. Pending authorizations tie up customer’s money and will most likely cause issues, especially for uncompleted transactions.

2. Stylus- PAYware mobile offers a stylus pen for capturing customer’s signatures. Square requires customer’s to use their finger.

Geo-tagging with PAYware Mobile

3. Geo-tagging-PAYware mobile offers users the ability to track their customer’s geographic location with Geo-tagging. This feature notes the nearest street or latitude and longitude coordinates. Perfect for tracking where most of your business occurs.

4. Delayed ACH-Square (which is not a merchant account) does not put a limit on how much you can accept with their service, but it will hold any processing funds over $1000 for 30 days. In some cases 45 days. PAYware mobile requires a merchant account, and depending upon the provider- funds may deposit next day with no automatic hold structure.

5. Twitter Account- Square requires a Twitter account before signing up for Square. PAYware mobile does not require a Twitter account to process credit cards.

iPad Credit Card Processing

6. Compatible Devices-PAYware Mobile is compatible with iPhone 3, 3GS, 4 and ipad, ipod touch (manually entry). Square is compatible with the same Apple devices and some Google Android smartphones.

*For iPad Credit Card Readers ROAMpay and Square are compatible.

For more information on accepting credit cards on smartphones, differences between the credit card processing apps, next day funding , or PAYware mobile visit www.paymentmax.com.