Square Wallet Review

Square Wallet
Square Wallet
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Square Wallet

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Updated 1/18/2019: Square has removed Square Wallet from the iTunes App Store and has publicly stated that the service is no longer a priority. Square Wallet was replaced with Square Order before it, too, was discontinued. At this time, Square Wallet is not an active product.

Square Wallet (squareup.com/wallet) is a free mobile wallet application offered by Square. Like LevelUp, PayPal, or the now-defunct Google Wallet, Square Wallet allows customers to pay at eligible stores using only their smartphones. All a user needs to do is download the free Square Wallet app, link his or her credit card, provide a photo, and activate the app in a Square Register-enabled location. The cashier will see the customer’s username and photo in the Square Register, and the customer can then pay by simply stating his or her username to the cashier. The Square Wallet can only be used at stores that utilize the Square Register point-of-sale system, which means that only Square merchants can offer this service to customers. Square made a splash in late 2012 by signing an agreement with Starbucks to enable all of its stores to accept Square Wallet payments.

Square Wallet Customer Complaints & Reviews

Here's What Users Think

From a customer’s perspective, Square Wallet provided an easy, secure payment method that allowed for discreet tipping and eliminated the need to deal with card readers. The service also automatically detected perks that are available to the customer, such as loyalty programs and active sales. Customer reviews praised the fact that users didn’t have to hand their phone to the cashier or wave the phone over a scanner of some sort, since the Square Wallet could communicate with the cloud-based Register system from a user’s pocket.

For a merchant, accepting Square Wallet could have several benefits. Customers could use the app to see which nearby businesses accept Square Wallet payments, so this feature may have given merchants the edge over non-Square-enabled competitors. Additionally, the use of a phone to make payments provided a seamless payment option that eliminated potential issues with cash handling or card readers. Since Square Register allowed merchants to promote loyalty programs or special deals to Square Wallet customers, merchants could encourage repeat business. Best of all, though, is the fact that Square Wallet acceptance was free with the Square Register. There was no additional commitment necessary for a merchant to try it out.

Most Square Wallet complaints have been posted by customers who experienced slow or failed payment attempts through the app. Customers report a low number of Wallet-compatible stores in their area, employee confusion over how to accept Square Wallet payments, slow or inefficient processing that holds up lines, and occasionally not seeing a “tip” option when they want to tip a server. It is possible that some of these complaints are due to the fact that Square Register could not accept Square Wallet payments on a smartphone. Employees instead had to accept Square Wallet payments through a Square Register-enabled iPad.

Customers also report a long load time when trying to check in at a Square Register location. Square Wallet offered an automatic check-in feature that alerted cashiers the second a Square Wallet user stepped into the store, but customers have noted that this feature drained phone battery at a rapid rate.

Aside from these device-related hiccups, Square Wallet also had the issues that come with being tied to Square’s merchant services. Merchants who wish to offer Square Wallet acceptance had to sign up for both the Square Register and credit card processing through Square. While Square is known to have transparent transaction rates (2.75% swiped, 3.5% plus $0.15 keyed), the company also suffers from a very high volume of complaints related to poor customer service and a pattern of withholding funds. Our review of Square currently awards the company an overall rating of “D,” and most merchants are not advised to sign up for Square simply to be able to accept Square Wallet payments.

Square Wallet BBB Rating and Report

Our Better Business Bureau Profile Assessment

The Better Business Bureau does not maintain a profile for Square Wallet at this time. We therefore will not factor a BBB rating into this review.

Square Wallet Fees and Rates

A Closer Look at the Contract

There are no available contract terms for Square Wallet due to the fact that the product has been discontinued.

Square Wallet Jobs and Employment

Hiring Standards and Ethical Marketing Assessment

Square Wallet is no longer being marketed by Square.

Square Wallet Review Summary

Our Final Thoughts and Opinions

In concept, Square Wallet represented a free, streamlined, smartphone-only mobile payment option for customers. The service had a lot of potential for innovation and was a nice benefit afforded to existing Square merchants. However, it appears that many users experienced issues with disrupted function and low availability among merchants.

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Customer & Employee Reviews

What Others Are Saying About Square Wallet

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