Vodafone-Square Partnership To Assist Small Businesses

Vodafone and Square have come together to provide a low-cost point of sale system to small business owners across Australia.

Vodafone and Square have come together to provide a low-cost point of sale system to small business owners across Australia. This innovative partnership lets Vodafone Red users access the Square Reader for just $5 (RRP $59) and waives off the Square processing fee for the first $1000 in payments. This is a great deal and will boost Vodafone’s popularity among the two million small business owners in Australia.

What is the Square Reader?

The Square Reader is a mobile credit card reader that lets you accept payments on the go. It connects into the headphone jack of your smart phone or tablet, letting you swipe all major credit cards anytime, anywhere. It allows secure transactions on tap, insert or card swipe, and make sure you don’t lose business just because you don’t have a clunky card reading device.

What does this partnership mean to business owners?

Square’s research in the Australian market revealed that 80 percent of Square sellers had not accepted credit or debit cards before. There is a huge gap in card payment solutions down under and Square is all set to fill that. It wants to partner with Vodafone so that more Australian businesses can get access to affordable payment solutions. This will help more businesses run and grow efficiently.

Business setup is a time-consuming process, and Square technology aims to make this easier for all. Square gives business owners the ability to take payments and run their operations from their mobile device providing them with unparalleled mobility, flexibility, and simplicity, while significantly reducing their costs and set up time.

Square is not just about collecting payments. The app lets business owners collect and analyze customer data, helping them better understand customer behavior and make smart decisions to drive their business forward. It also helps them manage inventory, send invoices and more – making it an affordable IT solution for businesses.

With society becoming increasingly cashless, Square and Vodafone are coming together to arm small businesses with tools that have traditionally been available to larger enterprises. From the retail floor to the market stall, they make it easy and convenient for everyone to start collecting payments instantly. This is good for the business, for Vodafone and the economy!

What does this partnership mean to Square?

Square is a US-based company that has only entered Australia recently. It does not have a retail footprint here, while Vodafone has over 500 stores around the country. The Vodafone partnership will enable the company to strengthen its customer base here and reach the right audience.

What does this partnership mean to Vodafone?

Vodafone is currently focusing on retail, trade/construction, and professional services.  They want to provide sophisticated services to business customers and find Square to be a great value-add to their strategy. They intend to continue with such partnerships to provide better solutions for their clients.

Who is eligible for the Square deal?

Any Vodafone customer who is on a

  • 24 month $50 and above SIM Only Red Plan OR
  • 24 month $60 and above Red Plan

can also purchase a Square device for $5 from select Vodafone stores.

What Square features will be available?

All basic Square features will be available out-of-the-box once the device is purchased. These include:

  • Tap, swipe and insert facility for Visa, Master Card, and American Express
  • Android Pay and Apple Pay Support
  • Payment processed within seconds
  • Funds deposited into a designated bank account within one business day.
  • Rechargeable battery
  • Can connect wirelessly to compatible iOS or Android smartphone and tablet.

Many additional hardware accessories, software solutions, analytics and tools needed for a more comprehensive point of sale solution can be purchased at extra cost. Customised solutions are especially available for the following business categories:

  • Beauty Professionals
  • Coffee Shops
  • Food and Beverages
  • Markets
  • Health and Fitness
  • Trades and Services
  • Retail

Do I need to pay any additional charges to Square or Vodafone?

No additional charges are to be paid to Vodafone as long as you remain within your data usage limit if using Square over your Vodafone data plan. Any additional data (over the limit of your Red Plan) will be charged at $10 per GB per month.

Square requires no monthly fees, setup fees or minimum transaction commitments. Just use it to run your business as it is in the current state. Only 1.9% of the minimum amount will be deducted before depositing. For example, if your customer makes a $100 payment through Square, $98.1 will be deposited into your bank account. 2.2% transaction fees will be charged if credit card details need to be stored or for invoice payments.

The deal is only valid till 7th November 2017, so best take advantage of it now!

 Sources

Neil Aitken

Having worked in 3 countries for 4 telcos on both voice and data products, Neil is in a position to give you the inside track. Get beyond the marketing messages to the best plan for you.