Fort Erie, ON
|reply to iLearn |
Re: Square Users?
I don't pay a monthly account fee, but I pay to rent a terminal. Our transaction fees, even when taking into account interchange fees and everything else still come out to less than 2.75%. Being a CFIB member helps a lot in that regard.
If you're not doing a lot of volume it might make sense, but it's still not something I would call ideal. Also, the lack of chip and pin opens you up to liability holes. Interac a non-starter, which is by far and away the most merchant-friendly way of accepting electronic payments.
It really looks like they have just taken their American product and are selling it in Canada, when our entire system of calculating fees and even taking payments (e.g. chip and pin) is entirely different.