For real. Assuming monthly credit charges are evenly distributed from month to month and you max out your allowed credit charges under the flat rate plan, you effective rate is 1.32%. Anything charged in addition to this gets charged at the standard 2.75%. So please tell me how a flat 2.75% is better for the customer? Whoever wrote this press release for Square went about it the wrong way.
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For real. Assuming monthly credit charges are evenly distributed from month to month and you max out your allowed credit charges under the flat rate plan, you effective rate is 1.32%. Anything charged in addition to this gets charged at the standard 2.75%. So please tell me how a flat 2.75% is better for the customer? Whoever wrote this press release for Square went about it the wrong way.