![]() ![]() Square provides multiple hardware options for its service. If you key in the card details manually or from a file, you pay a transaction fee of 3.5% plus 15 cents per transaction.įor a purchase done through eCommerce API, Square Online Store, Square Online Checkout or online invoicing, you pay 2.9% plus 30 cents for cards or 1% with a minimum of $1 per transaction for ACH bank transfers (via invoices only). You pay 2.6% plus 10 cents per transaction for card payments accepted using a Square Reader, Register, Stand, Terminal, Retail Plus or Square for Restaurants. Square’s platform handles all of these for you and only requires you to pay them a few cents for each transaction. Payment processing can be a big headache for businesses because there are multiple fees levied by card companies, banks and compliance standards. This can make it ideal for brand new businesses that want a solid POS platform without spending much upfront. Square is popular among small and mid-sized businesses because its has no monthly fees for the basic plan and a flat transaction fee structure. ![]()
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May 2023
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