Tag Archives | Square

The Truth About Square

There’s lots of talk today on mobile payment processor Square’s outstanding results. 500,000 readers shipped, 1 million transactions so far this month, $3 million in transactions per day.

That’s impressive. There really is a real need out there for the everyday consumer to have a method to accept good old plastic. I can tell you personally that I rarely carry cash anymore: it’s just so much simpler to swipe.

Square’s rates aren’t horrible (although not great either): 2.75% for each swiped card, or 3.5% plus 15 cents for manually entered ones. So its not surprising they’re doing well.

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