Square continues to endear itself to the small business community.
On Friday, the mobile payments provider introduced a new flat-rate pricing option for small business users of the popular credit and debit card reader.
In a nutshell, merchants who process less than $250,000 per year will only pay a flat monthly fee of $275.
Small businesses now have a choice to make. They can either sign up for the standard 2.75 percent fee or the monthly $275 charge, where there are no additional costs or contracts to sign.
“For 62 years, merchants have suffered complicated, expensive processing fees. Square is the first company to rethink electronic payment pricing with the merchant in mind. We are giving merchants affordable, predictable pricing, ” said Square CEO and co-founder Jack Dorsey. “With one monthly price, merchants know that the sales they’ve processed in a day is the same amount deposited in the bank.”
To learn more about the new pricing option from Square, click here.