Square Up have announced that from April an additional 1.5% charge will be added to the existing 2.5% fee for payments received via International Card transactions. Since nearly all of the payments I receive are from International cards, the service offered by Square does not seem so appealing. Should I now consider moving my business to a competitor who is not charging this additional fee? I have used Square up for many years and always been happy with the service but the competition is offering better alternatives. So, I would like to know if Square UP intends to introduce any pricing plans which might help to offset the additional cost of International payment fees?
Let me ask the obvious question, can you just raise your prices 1% or 1.5% to cover the increase?
Unfortunately, raising prices is not possible on 2026 bookings already confirmed but yet to be paid. Also, it is essential to stay competitive and 1.5% may not seem a lot but most of the payments that we receive are 100's of pounds running into thousands of pounds so a 4% fee can be a considerable amount and altogether this could amount 100's of pounds of lost revenue per year.
I'm therefore asking the question because I am happy with the Square Up product and service but I can also see their competition offer a pricing structure of £19 per month with fees at 1.69% per international transaction and this would be more cost effective. However, I don't know how reliable their service will be compared to Square Up who I would like to stay with if possible.
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