Square changes m-payment fees for businesses

Wednesday 27 November 2013 10:59 CET | News

US-based mobile payments company Square, has changed its mobile payment fee structure for businesses.

The company charges businesses 2.75 % of each credit card swipe — 3.5 % and 15 cents for each manually entered transaction. Last year, it began offering a monthly flat fee option of USD 275 a month for businesses processing charges of less than USD 250,000 a year. Square will no longer provide that option starting in February.

Square allows businesses to process credit card payments by swiping them through a plastic iPhone attachment.

In recent news, Square has launched Square Cash, a product that allows consumers to send money to contacts via e-mail.

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Keywords: Square, m-payment fees, credit card swipe, US
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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