Additional Square Reader for magstripe costs $10 each. It comes handy when you are on the go and need to accept payments.
Square Reader for magstripe: When you sign up for Square, you get a free magstripe reader, which is good enough to get you started. The software updates are also pushed via the app stores. In many cases, you can download from Google Play Store and Apple App Store. Square provides multiple hardware options for its service. If you key in the card details manually or from a file, you pay a transaction fee of 3.5% plus 15 cents per transaction.įor a purchase done through eCommerce API, Square Online Store, Square Online Checkout or online invoicing, you pay 2.9% plus 30 cents for cards or 1% with a minimum of $1 per transaction for ACH bank transfers (via invoices only). You pay 2.6% plus 10 cents per transaction for card payments accepted using a Square Reader, Register, Stand, Terminal, Retail Plus or Square for Restaurants. Square’s platform handles all of these for you and only requires you to pay them a few cents for each transaction. Payment processing can be a big headache for businesses because there are multiple fees levied by card companies, banks and compliance standards. This can make it ideal for brand new businesses that want a solid POS platform without spending much upfront. Square is popular among small and mid-sized businesses because its has no monthly fees for the basic plan and a flat transaction fee structure.
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