thread Re: Will adding a Square Reader add to the % Square takes? in Archived Discussions (Read Only)

Will adding a Square Reader add to the % Square takes?

DonnaStowers — Fri, 20 Aug 2021 16:50:08 GMT

Will adding a Square Reader add to the % Square takes out of the sale?

We currently just type in the card information and are looking at using the Square Reader. Will doing this increase the % square takes out of each sale?

Re: Will adding a Square Reader add to the % Square takes?

Donnie-M — Fri, 20 Aug 2021 18:03:34 GMT

@DonnaStowers Actually it will lower the percent square takes. The best bet is to get a square contactless chip reader. That is the only way to prevent chargebacks. The rates for processing are highest when you key a card in manually. Swiped cards are 2.6% + 10c, entering the way you are is 3.5% + 15c due to increased risk.

https://squareup.com/us/en/pricing?solution=pricing-in-person-payments

https://squareup.com/help/us/en/article/6109-fees-and-payments-faqs

So get that reader ASAP!!!

Donnie-M

Re: Will adding a Square Reader add to the % Square takes?

HC_Charlie — Fri, 20 Aug 2021 18:07:36 GMT

Hello @DonnaStowers and thanks for your question. Actually, I think you'd be saving money by using a Square reader. If your question is whether adding multiple devices or ways of processing a credit card exponentially increases the fees you pay, I believe that answer is no. Square processing fees are straightforward and based on per transaction.

When you manually key in your customer’s card details or use a card on file, the fee is 3.5% + 15¢.
When a customer taps, dips, or swipes their card in person, you pay 2.6% + 10¢ per transaction

For more information on Square processing fees, check out this link:

https://squareup.com/us/en/payments/our-fees

Thanks and happy selling!