Square users are going to be paying a lot more in fees starting November 2019

It seems the party is over for Square customers with low cost rates. This November 2019 their rates are going to more than double in some cases. Look at the examples below at what a merchant will now pay compared to what they have been paying.

Old Square Plan

$5 transaction x 2.75% fee x 100 transactions per day x 365 days = $4,745 per year

New Square Plan

$5 transaction x (2.6% + 10¢ fee) x 100 transactions per day x 365 days = $8,395 per year

With Square’s new pricing, that’s a 77% increase in fees.

It took awhile for the real world to catch up with Square who has been offering services at what seemed to be below cost for years. Industry insiders continued to yell it from the rooftops that it was to good to be true. Everyone knew they were buying business with rates too low to be true. It seems their low rates chickens have finally come home to roost! 

Now is the time to ditch your square for a real system. Check out these POS systems available in Seattle or give us a call at 253-839-9636 before Square doubles your cost of doing business. If you happen to be on the other side of the pass contact Gary with our POS Yakima office.