Square Offers Flat Fee Per Month, All Swipes Included Option
Square, the mobile credit card payments startup, is cutting small-business owners a break, offering a flat fee per month with an all swipes included option.
According to a blog post, you can pay $275 a month, up to $250,000 a year in revenue. Above that rate, it’s a flat rate of $1 per transaction, plus the old 2.75 percent fee. You’ll also pay the 2.75 percent on any purchase above $400.
Crunching the Numbers
How good of a deal is it? The math suggests if you’re pulling over $10,000 per month in swipes, you should go for the flat rate. Although if you expect to get above $250,000, you may want to reconsider…