Cash Advance for Newsstands
Fantastic News for Newsstands Credit Card Purchases Coming to a Stand Near You
In a world that is rapidly changing from cash only to credit only, how will small, cash-only businesses like food carts and kiosks and newsstands keep up?
Allowing your customers to use their credit cards on purchases isn’t free; many smaller businesses have attempted to cover the costs by implementing a minimum credit card purchase of, say, $5. This doesn’t work for all businesses, though: just ask small newsstand owners, whose average transaction is less than $4 per customer.
Luckily, for newsstand owners, one of the clever fellows behind the creation of Twitter has come up with a fast, simple, and cheap solution.
Jack Dorsey, one of the founders of the popular Twitter website, has another startup called Square that has changed the way small stands across the world can do business. Their genius invention is a tiny credit card reader that plugs directly into your smart phone or iPad. The folks at Square will send you the card reader and let you download the relevant app for free—all you need to do from there is plug it in and let the transactions begin. The flat 2.75% charge that Square takes from each transaction is a much more affordable and feasible option for small newsstand owners who found the traditional methods of credit card transactions way too costly to be worth the additional business.
The beauty in this new invention really lies in its simplicity. Since most newsstand owners have a smart phone or tablet anyway, all they need to do to start using the new Square credit card reader is to sign up for an account on the Square website, receive the free reader and app, plug it in, and swipe away! The Square credit card reader accepts Visa, MasterCard, Discover, and American Express cards, so no newsstand customer should be left out.