Health & Fitness
The Truth about SQUARE Credit card Reader.
Square Credit card reader vs my processing.
The Truth about SQUARE Credit card Reader.
What's better for your business? Square is doing a pretty good campaign and convincing small business owners that this is the way to go but is this at all true?
It was mentioned that regular processing charges as much as 5%. Not true at all. As a matter of fact the 2.75% that they are charging is ridiculously expensive. That is almost the same rate AMEX charges and that is the reason why many merchants choose not to accept AMEX at all. On average the effective rate including statements, transactions and everything associated you should never be paying more then 2.5% tops. On average most of my clients are as low as 1.5% to 2%. No long term contracts and 24 hour deposits.
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Did you know on average and in most cases 75% plus of the cards you will accept will only cost .05% + around .27 cents? Square for example on a charge of $100 = $2.75. My set up on average would cost you around $0.30 cents. Square is selling something that has been around for sometime now so my advice is shop around or just give me a call, 631-566-7757.
