Square has come out in defence of its card reader in the face of criticism of its service for being too expensive, unsecure and unreliable.
A post on the company’s official blog identified the “top 10 myths about Square” and “set the record straight” about why they are “totally bogus” as it looks set to do battle against Amazon’s new Local Register card reader.
Chief among the myths is that “Square is more expensive” than other options and the company explains this is false due to the fact it charges one low fee for each transaction and everything beyond that is free of charge.
Number six on the list, “Square hits you with hidden fees”, links back to this and it points out that these don’t exist and there is no difference in cost for processing different types of cards.
Second on the list is the claim that “Square isn’t secure [PCI-compliant]”, which the firm explains is incorrect as it is PCI-compliant and protects data as its business depends on it.
Next up it addresses the fact many think it has “no customer support or phone support” by pointing out it can be contacted by phone, email or Twitter, as well as an online support centre packed with material.
Square next points out that it isn’t just for small businesses and can “serve the needs of every type of business” no matter the size, and then goes on to state that the company isn’t “struggling” and is “here for the long term”.
The blog explains that it doesn’t "profit from transaction disputes" and debunks claims that it is “unreliable” by stating that both its Reader and Stand products are fast at processing payments adding in that its Offline Mode is there to assist when firms are “off the grid” for one reason or another.
Square adds that it is far from “just a card reader” thanks to the plethora of products in its Square Dashboard and at number 10 it confirms that the card reader works with a lot more than just Apple products.
The hit list of worries comes just a couple of days after the Amazon Local Register card reader was released and analysts spoke of being worried Square could see its market share shrink as a result due to the lower transaction fee it offers of 2.5 per cent compared to Square's 2.7 per cent.