Square Introduces $275/Month Flat Fee for Small Businesses
Today Square announced the expansion of its simple pricing for card processing with a monthly price for small businesses which includes 0% processing fee and one flat $275 monthly price, no additional fees, and no contract.
One monthly fee and 0% processing is the first pricing option that gives small businesses a lower processing fee than bigger merchants. Square is committed to offering prices that eliminate uncertainty and are lower than those traditionally only available for big businesses. In an industry that until now has only offered a per transaction fee, now merchants who process up to $250,000 per year can pay one flat $275 fee per month with no fee per swipe.
"For 62 years, merchants have suffered complicated, expensive processing fees. Square is the first company to rethink electronic payment pricing with the merchant in mind. We are giving merchants affordable, predictable pricing, " said Square CEO and co-founder Jack Dorsey. "With one monthly price, merchants know that the sales they've processed in a day is the same amount deposited in the bank."
You can download Square Card Reader from the App Store for free.