When it started in 2009, Square only had one product, the Square Reader. Today, however, the platform offers users various solutions for their businesses.
It is one of the main reasons why the company generated $4.7 billion in 2019. The company hasn’t only limited its services or solutions to only mobile payments, though. It also offers many other financial and merchant services.
Due to its various services and solutions, the platform has reached approximately 24 million users in different countries. It is a trustful name among merchants and businesses.
However, some businesses and even their customers are hesitant to try the platform’s solutions. Some of these reasons may be justifiable. However, for most of them, the hesitance comes from a lack of awareness about the platform.
Five reasons why Square is safe
There are numerous reasons why Square is one of the safest platforms for users to trust with their businesses. However, given below are only five of the top reasons why Square is safe.
1) Encryption
Square’s solutions work because customers have to provide merchants with their card data, which they can feed into these solutions. As soon as the data enters into Square’s system, it gets encrypted before any further processing.
It means that any unauthorized parties cannot use the information as they can’t read anything from it. For a platform like Square, encryption is crucial, which it takes seriously as well.
On top of that, even the employees or users can’t access customers’ card information once it enters the system. Square also takes care of the PCI compliance for the device, so users don’t have to worry about the extra burden.
2) Anti-hacking measures
Due to the nature of the services that Square provides, it is the main target for hackers. Therefore, users on the platform often worry about these problems.
However, Square has anti-hacking measures to keep its users and their accounts safe from hackers. These measures include all modern features that can keep users safe.
Square takes the safety of its users seriously. Therefore, the platform tests its systems regularly for any possible vulnerabilities. It also updates its security system in case any vulnerabilities exist in the system.
These updates happen behind the scenes regularly, and users don’t know about them. However, Square always ensures its security is up to a standard.
3) Account protection
Apart from encryption and safety features, Square also provides users with robust account protection tools. While the anti-hacking features keep hackers away from the platform, account protection tools are for when users’ login details get leaked or stolen.
By using these tools, users can enhance their security. Square actively monitors users’ activity to identify and block any suspicious activity promptly.
Some of the account protection tools provided by Square include 2-step verification, access controls through employee permission, and direct feedback to users regarding their credentials.
All these tools maximize users’ accounts security and add extra layers of defense against any breaches.
4) PCI compliance
As mentioned above, Square takes care of PCI compliance for its users, so they don’t have to worry about it. PCI compliance refers to the Payment Card Industry Data Security Standard (PCI DSS) compliance.
Through this compliance, businesses can ensure they follow to protect the credit card data that their customers provide them. PCI compliance also helps with the overall security of payment card processing systems.
PCI compliance can help users greatly when it comes to the safety of their transactions. However, it also ensures that customers’ data stay safe. Therefore, Square helps its users and their customers stay safe from any unwanted information breaches.
5) Customer support
While customer support doesn’t directly contribute to the safety of a platform, it can help users with their safety problems. Square has a customer support department that users can reach through various mediums. These include live chat, phone, email, and social media. It allows users to contact customer support through any channel of their liking.
The customer support representatives on the platform are professionals who know what they are doing. They also prioritize safety issues so users in need of urgent support can get help first. If users come across any problems with their safety, they can contact customer support and get help promptly.
Conclusion
Square started from being a small company that offered one solution. Today, it offers multiple products that generated $4.7 billion in revenue for it in 2019. While the platform has many features, some users still don’t know if it is safe. To answer their questions, given above are the top five reasons why Square is safe for users.