Clover vs. Square – Mobile Credit Card Processing Showdown
Square tends to be one of the dominating credit card terminals for new businesses wishing to process credit card payments on their mobile devices. However, there are new products coming onto the market that is giving Square a run for its money. The latest device is the Clover ® Go, backed by the powerful First Data, this device offers a lot of services with the security of merchant service provider as well.
The Clover Go is just one part of a larger system of Clover products that range from a full POS system to a more compacted version called the Clover Mini, and if you have a tablet or smart device you can easily tap into the Clover Mobile system for payment processing. Clover Go is the most similar to the Square as it’s a reader that plugs directly into your mobile device.
One of the more appealing selling points with Square is the ability to avoid being locked into any sort of contract with a merchant service provider, along with the flat rate fees. However, there can be a downside to being a stand-alone service. If you are interested in the Clover system you can get it from a variety of resellers, such as Merchant Services LTD, going through First Data is not a requirement, you can even purchase Clover products at your local Sam’s club.
If you are looking to purchase the Square device you can do so through a variety of retail stores, but you lack the ability to set up merchant services account with someone of your choosing. With Square, regardless of where you purchase your account will still be set up directly through Square, which serves as the tool to aggregate payments. A payment aggregator uses one merchant account to represent a number of merchants opposed to the traditional model which disburses a merchant account to each merchant.
Clover vs. Square - Benefits to having a merchant services account with your payment processing device
Saving money is a huge benefit, and merchant services providers will usually be able to beat the credit card processing rates (our rates are among the best) offered by Square. Choosing a product such as Clover Go allows for business owners to feel secure in their data processing. Clover Go meets all PCI security standards and will be routinely upgraded as new versions are made available through your merchant services provider. Built in 24/7 customer support is an added benefit to being a merchant services account holder. Whenever a problem arises with your payment processing device, there is an expert staff member available to help you troubleshoot even the smallest issues.
Associated Fees
Depending on your volume of sales having a standard merchant services account can benefit your bottom line and ROI. Clover rates will vary, but due to having access to proper merchant services account business owners can qualify for interchange-plus plans. Square offers one flat fee for all credit card transactions:
• Swiped transactions: 2.75% + $0.00
• Keyed transactions: 3.5% + $0.15 per keyed
Features on Clover and Square devices
Each device offers mobile apps that can be accessed and applied to transactions.
Clover Go offers:
• Customizable tax and tip
• Full/partial refunds
• Unlimited users
• Email/SMS receipts
• Integrated reporting with other clover systems
• Items library (no inventory tracking)
• Quick-sale mode and inventory mode
Square’s Register POS features:
• Customizable tax and tip
• Quick sale or inventory sale
• Full/partial refunds
• Discounts by percentage or dollar amount
• Email/SMS receipts
• Reporting
• Add items in-app
• Adjust tax settings in-app
• Integrated inventory sync and management
Hardware Pricing:
The price for your Square card reader and hardware will vary depending on which retailer you go with, or sometimes the most basic card reader will even be offered for free. Similarly, with Clover Go, depending on the merchant services account provider you choose you may be eligible for all your hardware devices to be included when you open an account with that particular company.
Clover vs. Square - Which device to choose?
Just like with all things in life there are pro’s and con’s—it’s up the business owner to choose which device suits their business model best. If you are looking for more customer support and access to more flexible payment rates and fees than Clover Go may be the best option for you. If you are a low volume business where rates and fees don't affect your bottom line than Square can be a perfectly appropriate selection to meet your payment processing needs.