Square Removes Payment Caps

Square released an update to their app today removing the $100 per transaction cap that was hindering the use of the app for many people, myself included. The full feature list for the iOS app update is as follows:

• Never lose a sale: no caps on how much you can accept.
• iOS 4 support.
• Improved experience for contacting Square support.
• Cash tendered field is now pre-filled with the expected amount.
• User feedback when swiping too slow or too fast.
• User feedback when swiping an expired card.
• Excluding tax from a transaction is now accurately reflected in the receipt.
• Fixed a crash affecting iOS 4 users with core location disabled.

The removal of the payment cap is greatly welcomed. When I go to sell old tech, I usually want more than $100 for it. Case in point: a couple weeks ago I sold my old iPhone 3G for $150. I used Square for the transaction, but had to do a $100 transaction then a second $50 transaction. It worked wonderfully, but the double transaction was inconvenient.

I assume the Android app will be getting a similar update to remove the transaction cap, but I haven’t received any word on that.

I think I’ll be listing some more things for sale this weekend, and using Square as my preferred method to receive loot.