How much does a Square payment take?

Square Payment Processing Fees

Square is a popular payment processing solution for businesses of all sizes. It offers a variety of features, including the ability to accept payments from multiple sources, such as credit cards, debit cards, and mobile wallets. However, it’s important to be aware of the transaction fees associated with using Square.

Standard Card Transactions

Standard card transactions, which include swiped, dipped, or contactless payments, cost 2.6% plus 10 cents per transaction. This is a competitive rate compared to other payment processors.

Manual Entry Transactions

Manual entry transactions, also known as card-not-present transactions, are subject to a higher fee of 3.5% plus 15 cents per transaction. This is due to the increased risk of fraud associated with these types of transactions.

Additional Fees

In addition to the standard transaction fees, Square also charges a flat fee of $0.15 for each refund processed. There is also a chargeback fee of $15 for each chargeback received.

Understanding Square’s Fees

It’s important to understand Square’s fee structure before signing up for the service. This will help you budget for the cost of payment processing and ensure that you are using the most cost-effective option for your business.

Conclusion

Square’s payment processing fees are competitive and transparent. By understanding the different types of fees and how they are calculated, you can make informed decisions about your payment processing strategy.