Square Drops Fixed Fee on Credit Card Swipes

Posted by at 2:53 pm on February 22, 2011

Square today said it was dropping its fixed fee for payments from its Android and iOS apps.  The fee used to be 15 cents for a credit card swipe from one of its readers regardless of how much thetotal purchase was.. The move will still include a 2.75 percent transaction fee should help them grow with merchants who sale low margin inexpensive purchases such as food carts and such. 

Those who have to enter the number by hand, such as without the reader or with a broken credit card, will still pay the fee alongside a 3.5 percent cut of the sale price.

Square’s app is free for iOS and Android. The reader itself is free to those who sign up and works through the headphone jack of iPad, iPhone and iPod devices as well as Android.

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