CardFellow Publishes Article Explaining Square's New Fee Structure

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Article explains that Square may impose per-transaction fees up to 15 cents for businesses with average transaction totals under $10.

CardFellow credit card processing marketplace
The new Square fees will affect businesses with average transactions of $10 or less.

CardFellow, the leading resource for comparing credit card processors, has published an educational article detailing changes to Square’s pricing model that may affect businesses who use the mobile processor. The new Square fees will affect businesses with average transaction totals of $10 or less.

Square has long touted itself as a “flat rate” credit card processor, offering a rate of 2.75% on all swiped transactions, with no per-transaction fee. The swiped rate applies to all cards. The article explains that Square is now quoting businesses with average transactions of $10 or less the original 2.75% plus a per-transaction fee ranging from 10-15 cents, and provides in-depth information on how the updated pricing will affect businesses. CardFellow is also happy to answer specific questions, which can be left in the comments section of the article.

In addition to explaining the Square fee change, CardFellow's article offers general information for businesses that need details on comparing mobile processing solutions.

“Services like CardFellow’s can really help make choosing a processor a lot simpler," explains Ben Dwyer, President of CardFellow. "When you use our free comparison tools, you can browse options for equipment, including mobile readers, and see exactly what you’ll pay in an apples-to-apples comparison." You can even request pricing from Square, just to see how it stacks up. Comparing options side-by-side provides a clear picture of true costs, providing businesses with the necessary information to make the right decisions for their needs.

Dwyer concludes, “The article on Square's new pricing details what businesses can expect, and highlights the shift from a flat-rate disruptor to quoting in the same percentage + transaction fee method as traditional processors." You can read the full article here: Big Changes for Square Customers: Per-Transaction Fees.

CardFellow, LLC has been helping businesses find the most competitive credit card processing solutions since 2006. The company’s online marketplace offers instant quotes from pre-screened credit card processors as well as personalized support to help businesses select the best option. The company also offers an extensive product directory with one-click options to add equipment to quotes, and a review system for consumers to read or post about experiences with processors or equipment. Merchants remain anonymous so they can review quotes without the pressure of sales calls. Based in Connecticut, CardFellow provides services to businesses throughout the United States.

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Ellen Cunningham
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