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Just started using square....I ran a credit card using the mini processor on my phone & was charged 2.68%....I got the square stand/slide reader/contactless , ran another card(contactless reader) the next day & it was 2.87%??? Anyone know why? It was not manually entered
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1 REPLY 1
Square's standard processing fee for swiped/dipped/tapped payments is 2.6% + 10¢ and is the same across all readers. However, since the 10c is a fixed rate, the overall calculated percentage will fluctuate depending on the transaction size - the bigger the transaction, the smaller the calculated percentage. @Wildnred
Here's a breakdown of Square's pricing. If you need further explanation, our Square Team will help out.
Justin
Community Moderator, Square
Sign in and click Mark as Best Answer if my reply answers your question.
Community Moderator, Square
Sign in and click Mark as Best Answer if my reply answers your question.