If you’re a contractor, cash is king. Slow-paying customers will kill your cash flow. That’s not fun at all.
So why not get your customers to pay you by credit card, right in their homes (or anywhere else)?
To do this, the device you need to plug into your Android smartphone, iPhone or iPad is called Square. If you’re a contractor, you can request your free card reader here.
In this video, Canadian Contractor publisher Rob Koci chats with Square’s Swati Mylavarapu about how Square works.
Basically, you need the little card reader gadget and you need to download Square’s app. You can order the gadget online at the above link and it will be mailed to you. Or you can buy one at participating retailers (which include the Apple Store, Best Buy, Staples, Target and more… see www.square.ca).
The whole process of downloading the app and typing in your bank information, etc., only takes 10 to 15 minutes. Not a bad investment of your time to help solve your cash flow problems, huh?
When you are set up, and have the gadget plugged into your phone or tablet, you simply hand it to your customer, who swipes their card. (Or you can do it for them.) Then, the customer signs on the screen. You have a permanent record of their transaction.
Even better, if you have people working for you, with Square’s Mobile Staff feature you can set each of them up with their own sub-accounts (all under your own master account) and you can see their sales activity in nifty reports that tell you who sold what, to who, when and what it was for.
The money shows up in your bank account by the next business day.
And finally, you don’t need to worry about which credit card the customer uses. No matter which card they use, you will only be charged (at time of writing) 2.75% to process the payment.
Canadian Contractor thinks Square will go a long way to helping contractors, renovators and repair people to greatly improve their cash flow – and keep better records of payments.
If you have any questions or comments about Square, please email Rob Koci at email@example.com. We will pass them onto the folks at Square.