Overview

Square Invoices is part of Square's comprehensive payment ecosystem, offering invoicing integrated with point-of-sale and banking services. Our analysis reveals broad data usage across Square products, significant fund hold provisions, and mandatory arbitration requirements.

Key Concerns

  • Cross-Product Data Sharing: Invoice and customer data is shared across Square's ecosystem including POS, Banking, and Marketing products.
  • Fund Holds: Square can hold funds from payments for extended periods based on their risk assessment algorithms.
  • Account Limitations: Square may limit account functionality or terminate accounts with broad discretion and limited appeal processes.
  • Mandatory Arbitration: All disputes must go through binding arbitration with class action waivers.

Positive Aspects

  • Ecosystem Integration: Seamless connection with Square POS, appointments, and banking for unified business management.
  • Free Basic Features: Core invoicing features available without subscription fees (payment processing fees apply).
  • Quick Payouts: Options for same-day or next-day fund transfers with Square Banking.

Data Collection Summary

Square collects invoice data, customer information, payment details, transaction history, device information, and location data. This data is used across Square products for payments, marketing, lending decisions, and product development.