Is Square the Best Payment Processor for Restaurants?

Restaurant Payments

Ever since the introduction of the original Square Reader – the small, white plastic magstripe reader that plugs right into the headphone jack of a smartphone – Square has been a widely recognized brand name among small businesses and entrepreneurs. There is no question the Square Reader was revolutionary for pop-up shops, mobile businesses, and hobbyists, but for all the convenience it offers to small retailers, the question remains as to whether it’s the right choice for larger, fixed-based businesses, including restaurants.

While Square certainly can be used as a restaurant payment processor, when compared to some other merchant services and payment processing providers, including BAMS, Square and its third-party peers like PayPal and Stripe have some notable drawbacks that make them less than ideal solutions.

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When is a Third-Party Processor like PayPal, Square, or Stripe Right for You?

PayPal, Square, or Stripe

The electronic payments industry is a hotly contested marketplace, with a wide array of different payment solutions for merchants to choose from. Unfortunately, sometimes that level of choice can lead to indecision. It isn’t uncommon for merchants to respond by signing up for the providers that they’re most familiar with. Sometimes that might mean going directly to their bank. Often it means choosing one of the brand names they’ve seen or read about, with PayPal, Square, and Stripe being three of the most well-publicized. 

Each of those companies provides excellent electronic payment solutions, but it’s important to note that they’re best suited to a very specific kind of business. Companies that jump on board with them based on brand name alone without considering their needs might find themselves limited, or worse yet, bleeding-off profits needlessly. 

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