Reason #776 that I love Square above all other processors: Square Installments!
Ok, so Square Installments requires a tiny explanation:
Normally, in order to offer payment plans, you would set up recurring payments in Square. But, with Square Installments, when someone goes to pay your invoice, they are presented both the pay now button AND with the option to apply for an installment plan. This installment plan is between the applicant and Square. That means you are not offering a payment plan, Square is. If the applicant is approved, Square pays you the full amount and the applicant pays off the credit directly to Square (at 9.9% interest). The number of payments is determined by Square. You, therefore, have nothing to do but send the invoice.
How does this help? It enables clients who may want or need to break payments up to do so without discussion or time-consuming negotiation. It keeps your business in positive cash flow because you are paid in full upfront, drastically reducing the chances of late or delinquent payments and FYPM disputes.
*The caveat* is that you cannot tell your people that they can have a payment plan through Square. It's a little confusing, but basically you can say, "Square offers an installment option on your invoice" or "you can apply for the Square installment plan from the invoice" But you cannot say, "you can have a payment plan through square", "You should apply for the payment plan" or "you shouldn't have any trouble getting the payment plan." In essence, you can't sell the payment plan, you can only let people know that it is an option that appears on their invoice. (which, personally, I'm super cool with as I don't want to have anything to do with someone else's credit.)
A) This is a beta program, so not everyone who uses Square will be eligible immediately.
B) Those of you who already use Square may have received an invite.
C) If you don't already use Square, get on that shit. Here is my affiliate link https://squareup.com/i/TANIAFOXCO
(which you can use or not, but if you do, we both get $1000 free processing.)
Why do I love Square over all others? They have been at the forefront of convenience and flexibility for mobile and virtual businesses. I've been using it since 2009 and have NEVER had a problem. My money is always delivered on time and refunds are processed immediately (positive conflict resolution = positive word-of-mouth!), my customers and clients get real receipts, it is the easiest to use and it integrates perfectly with my accounting. Unlike PayPal, any disputes are handled with equal opportunity for all parties to present their side before a decision is made (PayPal defaults to the buyer and does not acknowledge virtual service delivery (calls, videos, chat, text, etc.) Unlike Stripe, money is not held for extended periods. Same day batching, just like in real life. And, when you need to talk to a human, you talk to a human.
In short, they do good business so I can do good business.
Questions? Hit me up in the comments!