Square noted that their flat 2.75% pricing for tapped, dipped, and swiped transactions would now be changing to 2.6% +10¢ per payment. Companies with small tickets are going to be hit hardest by this price change.
This pricing update is for card present transactions – swiped, dipped, and tapped. Anyone using physical readers will see this change in their transactions beginning November 1. The biggest impact of this change will be felt by businesses with smaller transactions.
Square’s new pricing structure favors larger transactions, so it may find more success attracting merchants with larger average transaction values now. Under the new fee structure, transactions higher than approximately $75 will actually see their fees go down compared with what they would have been under Square’s previous system.
Square’s been shifting its focus to larger merchants — sellers with over $125,000 in annual gross payments volume (GPV) accounted for 54% of Square’s GPV in Q2 2019, up from 50% a year prior — so the firm’s new pricing could help this initiative if it targets merchants with higher average transaction volumes.
$5 transaction x 2.75% fee x 100 transactions per day x 365 days = $4,745 per year
$5 transaction x (2.6% + 10¢ fee) x 100 transactions per day x 365 days = $8,395 per year
TCP Store members know they are paying the lowest rates possible with our 0% processing fees and $0.00 per swipe program.
Our members do not need to buy expensive point of sale hardware. Your membership fees include your hardware at no additional cost
Should your hardware fail or new rules and regulations come up we will replace the unit for you without hassle or charges
Have the money you earned today in your account tomorrow. All of our devices come preprogrammed to batch you out just in time
• Food Trucks
• Auto Repair
• Cigar Stores
• Car Wash
• Fabric Stores
• Pizza Shops
• Dry Cleaners
• Plant Nurseries
• Vape Shops
• Liquor Stores
• Property Management
• Health & Fitness
• Moving Companies
• Equipment Rentals
• Salon Spas
• Gas Stations
TCP Store members know they are paying the lowest rates possible with our 0% processing fees and $0.00 per swipe program. We also offer traditional processing programs for merchants starting as low as 1%. Our members are confident they are always paying the lowest rates for their business.
TCP Store members do not have to incur the cost of buying expensive point of sale hardware. It is shipped to your business free, so easy to install you will be running your business in minutes. Our staff will help you solve your issues if any, so you can get back to doing business faster.
Your Clover Device is included with your TCP Store Membership. Should your hardware fail or become obsolete we will replace the unit or units for you without hassle. Our Quick Ship program is also included to get you your equipment faster. Should you ever need a replacement device it’s still free shipping!
Have the money your business earned today in your account tomorrow. All of our Clover devices come pre-programmed to batch you out just in time to make sure your hard earned money is in your business account the very next day. Our members make more money and get it right away.
The TCP Store is a registered ISO of Wells Fargo. Promotional offers brought to you by The TCP Store. The Clover name, logo and related trademarks are owned by Clover Network Inc. a wholly owned subsidiary of First Data Corporation, and are registered or used in the U.S. and many foreign countries. All other trademarks, service marks and trade names referenced in this material are the property of their respective owners.
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