Hi Sellers,
Square is committed to helping you run and grow your business with easy-to-use tools that help you accept payments, take appointment bookings, track inventory, fulfill orders, and more.
We regularly review our pricing structure to ensure we continue delivering the value, technology, security, and support you expect from us.
In light of the recent fee increases by Interac and the exponential shift to contactless and mobile debit payments – and for Square to more accurately reflect the increased costs associated with processing these transactions – we are adjusting our Interac debit card pricing for in-person transactions from 10¢ per transaction to 0.75% +7¢. Square has not increased its Interac debit pricing since enabling Interac acceptance in October 2017 and as we have made significant investments to improve the product since that time, we wanted to update the pricing to reflect that added value as we strive to best serve your business.
New pricing will take effect for new account signups at 9:00 am PST / 12:00 pm EST on June 21, 2023, and on September 21, 2023 for all sellers that have signed up for a Square Account prior to this time.
These changes do not affect credit card processing rates – only Interac debit in-person rates. If you have any questions or concerns, please visit our support centre, or visit our pricing page to learn more about our fees.
We appreciate your trust in Square and your continued partnership.
Thank you for selling with Square.
