marz

Square Monthly Fee

8 posts in this topic

I'm interested in how you guys feel about Square. Square is a credit card processing company that allows any business or individual to process credit cards on any mobile device (smartphone or tablet). They recently introduced a new pricing structure which seems like it will benefit small restaurants which process less than $21,000 per month. Basically, it's a subscription-based pricing structure where you pay a flat monthly fee of $275 to process any of the four major credit card brands as long as each transaction is less than $400 and up to $21,000 in processing per month. Any processing over $21,000 in a single month AND any transaction over $400 will process at 2.75%. So what does everyone think? Is this something any of you guys would benefit from? We process more than $21K per month but even if we paid 2.75% for the rest of our processing we'd be saving a lot of money. Does anyone use this. If so, how much has it saved you? Furthermore, where the heck have Square and SAIL been for the past eight years? I'm almost angry that we've been getting ripped off by our credit card processors.

That's strange, I entered a few paragraph breaks before I submitted. Sorry, guys.

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Hi Marz, 

 

Thank you for posting this, and your continued presence on our forums. We've definitely been looking at Square, and seeing what they offer their customers. I know that SAILPay by Verifone is competitive with them. We did start a partnership with Verifone, and LavuLite users have been able to integrate directly with them. They offer a 1.95% rate, which is very low. 

 

David Miles 

Lavu 

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Integration is definitely a plus! If you could get Square on board that would be unbelievable. The thing I like about Square is that there are no hidden fees. Either you pay $275/month to process $21K or 2.75% per transaction. Period. No other fees ever. I sound like a salesman but that's just how passionate I am about products I believe in. The same thing happened when I set my sights on POSLavu. I couldn't (and can't) stop raving about you guys ever! BTW, $21K at $275/month is only 1.31%. That's ridiculously low. SAILpay looks pretty good too. I just haven't looked into it as much. Also, when will SAIL be available for us non-POSLavuLite users? Thanks David!

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Thank you! 

 

It means a lot that you are so excited about our product, and speak out for us. 

 

I don't want to give you any wrong information about SAILPay integration with POS Lavu, as opposed to just LavuLite. That is something that I would definitely be interested in getting accomplished, but I don't know if Lavu will every have that option. If I ever hear anything, you'll be the first person that I contact :) 

 

David Miles 

Lavu 

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Hey guys,

 

I talked to development about square integration a while ago. The response was that square does not seem to be interested in integration with other products.

 

I was however able to get my current cc processor to match the 2.75 rate after all the fees were included and everything. The bonus is this way I can do gift cards as well.

 

Rafael

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I was taking Amex at the time.

 

I still can take Amex but unless they are corporate cards I don't and I have received no complaints. Other then corporate customers I have yet to run into someone who does not have another card besides Amex.

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Has anyone ever tried to use Square or something cheaper like them and just close each square transaction out on Lavu to something created called "square cc"? I am desperately trying to stop paying $1,000 a month to CC fees. 

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