Will adding a Square Reader add to the % Square ta...

DonnaStowers · ‎08-20-2021

Will adding a Square Reader add to the % Square takes out of the sale?

We currently just type in the card information and are looking at using the Square Reader. Will doing this increase the % square takes out of each sale?

Donnie-M · ‎08-20-2021

@DonnaStowers Actually it will lower the percent square takes. The best bet is to get a square contactless chip reader. That is the only way to prevent chargebacks. The rates for processing are highest when you key a card in manually. Swiped cards are 2.6% + 10c, entering the way you are is 3.5% + 15c due to increased risk.

https://squareup.com/us/en/pricing?solution=pricing-in-person-payments

https://squareup.com/help/us/en/article/6109-fees-and-payments-faqs

So get that reader ASAP!!!

Donnie-M

Donnie
Multi-Unit Manager
Order Up Cafe/Tombras Cafe/Riverview Cafe/City County Cafe
Roddy Vending Company, Inc.
www.OrderUpCafe.com

Using Square since July, 2017
Square Super Seller
Square Beta Team

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HC_Charlie · ‎08-20-2021

Hello @DonnaStowers and thanks for your question. Actually, I think you'd be saving money by using a Square reader. If your question is whether adding multiple devices or ways of processing a credit card exponentially increases the fees you pay, I believe that answer is no. Square processing fees are straightforward and based on per transaction.

When you manually key in your customer’s card details or use a card on file, the fee is 3.5% + 15¢.
When a customer taps, dips, or swipes their card in person, you pay 2.6% + 10¢ per transaction

For more information on Square processing fees, check out this link:

https://squareup.com/us/en/payments/our-fees

Thanks and happy selling!

Will adding a Square Reader add to the % Square takes?