Mobile Credit Card Processing Clover Products vs. Square

Being able to accept credit cards anywhere you happen to be has certainly pushed to the top of the list of things desired by merchants from their credit card processor. Much of this was inspired by the convenience of using Square. Square has continued to dominate in the arena of credit card terminals for new businesses wishing to process credit card payments on their mobile devices.

However, a showdown is just beginning with Clover Go, backed by the powerful First Data, gaining significant traction in the marketplace. Clover Go offers lots of services along with layers of security provided by Merchant Services Providers such as Chosen Payments.

The Clover Go is one of many products in a suite of Clover products that range from full size Point of Sales (POS) systems to compact devices like the Clover Mini. If you don’t want to buy new hardware and you already have a smart device such as a tablet or phone, the Clover Mobile system may be just what you need. Clover Go is similar to Square. In fact, it is also a card reader that plugs into your device.

While some merchants like the fact that Square has very predictable charges, no long term contracts and is super easy to use, all that does come with a heavy price. A merchant using an MSP like Chosen Payments might process a transaction with fees of 1.87% while that same transaction with Square would cost 3.50% (and a .15 transaction fee).  Let’s do the math on a $1000 transaction. A Chosen Payments merchant would pay $18.70. The same transaction with Square would cost a merchant $35.20. That’s a whopping $16.50 more. Nearly double the cost simply for the convenience!


Clover vs. Square: The Benefit of a Credit Card Processor

Putting more money back into your pocket or reinvesting the savings into your business is probably the most important benefit of using a credit card processor but not the only reason. A credit card processor will represent you if you have a chargeback. Most credit card processors offer 24/7 support for their merchants.  If you choose to open on Thanksgiving evening for the early bird shoppers, you want to be confident that help is  available. A processor like Chosen Payments supports the industries we serve through association membership and sponsorship as well as making financial contributions to help your industry association grow. Did you see Square at your last industry trade show?

A Device Comparison: Square vs. Clover Products

Each device offers mobile apps that can be used for 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


Square vs. Clover – Which device should you choose?

There are always pro’s and con’s in decision making.  You have to decide what is right for your business based on what your needs are, the demands of your customers and how much you are willing to pay.  If having a merchant services provider in your corner with lower credit card processing rates and fees is most important, then Clover Go is the best option for you. If you process a handful of credit cards with low transaction volumes and the rates and fees don’t really significantly impact your bottom line profit then Square is probably a great option for you.

* Chosen Payments is an authorized dealer for Clover Products.