🆕 Track external transactions with Custom Payment Methods

[#1]

Hello! I’m Sandhya, a product manager working on new tools for the Square Point of Sale!

I’m excited to announce the launch of a highly-requested feature, Custom Payment Methods. Custom Payment Methods allow you to capture and track payments received from external sources like 3P ordering and delivery providers, non-Square gift cards, memberships, and more. Rather than bucketing these all together under ‘Other’ payment methods, you can now track them on an individual level, keeping your sales, reporting, and staff commissions payouts more accurate and saving you time.

Learn how to set up Custom Payment Methods.

We’re looking forward to hearing how this feature is working for you, and any additional suggestions you may have. 

[ryanwanner]

Nice @SQ_SANDHYA ! This has been a long requested update.

[ehflower]

Excellent! 

[Makai]

I expect to be very happy to see this feature, but:

Question -- Are payments recorded using a Custom Payment Method reported on the Form 1099-K? The Support article on managing 1099-K forms says "Cash sales are not included in the total we report on the Form 1099-K . . ." but is silent on other payment forms (including any using the "other" payment option). If payments by a Custom Payment Method are reported on both the Square 1099-K and a 1099-K issued by the other payment method it could result in the IRS thinking we are under reporting taxable income. 

[lennys26]

I do not see the Payment Methods option. A search for the term also does not return any results. 

[muzammilhussain]

Yes excellent feature.

[doc_choc]

Nice feature, looking forward to trying.

Do you know if custom payment will be extended out to invoices. We currently take invoices payments via square, but we also have payments that are received via direct bank transfer, customers preferences when paying be nice if these could be incorporated for easier accounting.

[PlantSellerYEG]

I was able to add a new custom payment method. However, when I open up the payments screen using my iPad/Square Stand, I can't sort the order of the payment payments and arrange where the new custom payment method shows. 

[jennangel5]

Will there be an added feature that allows you to create nfc attachments to custom currency amounts so that customers can scan an nfc tag to make custom payments? Example: I use invoices to collect deposits for future dated events. During the event, customers use up their deposit in sales before we charge additionally. For example, a company gives 100 employees a voucher worth $5 to use with us and then the customer can buy an item with only that amount or add their own money to it to get more items or one item that is more expensive. So right now we have to open a check at the start of the event, ring up the items paid for by the vouchers manually in the check and then close it when the dollar amount hits their exact deposit amount. If a customer wants to spend the voucher the event gives them and then buy more on top of that, we have to first ring up the voucher amount on the check and then ring up in a separate transaction the amount above the voucher the event provided. This becomes very problematic if they want to buy one item that is priced above the voucher amount because now we are ringing up two tickets for one item (voucher amount on check and remaining amount on separate sale) which can be confusing for staff making the order. If we could give the event coordinator our own currency, customers can use that in conjunction with paying above the amount they were given in our custom currency in one transaction by splitting the payment instead of having to make all the voucher sales on one check. We can technically do that right now. However, there is a big possibility that someone might copy our currency, so we have to use an authorization method to make sure that didn't happen. The only method that I can think of is nfc stickers. I can use them now to verify validity of the currency and then use the custom payment method on the register separately, but it would be nice to just scan the payment which would verify authenticity and also apply the payment to the transaction in one step.