Square Offers Businesses a Flat $275 Monthly Usage Fee

Mobile payments firm Square is offering small businesses an alternative to the standard cut-per-transaction model. Now, such businesses can pay a flat $275 fee per month for unlimited use.

Square, which normally charges a 2.75% fee per swipe, announced the option on Thursday.

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 said in a press release. With one monthly price, merchants know that the sales theyve processed in a day is the same amount deposite…
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