Square goes mainstream (updated link)
We all enjoy disruptive technology as consumers. Developments like Square’s payment system are a perfect example of people realizing “there is a better way to do this” and actually doing something about it. Hey, small business owners, remember the days of those “payment system” companies robbing you right in front of your eyes?
“Yes sir, that will be $2500 for the credit card machine, payable in 100 installments of $25 a month…and we will also be taking 3% of every transaction for VISA/MC and 3.5% for AMEX, thank you”
I was talking to the owner of a local business the other day who told me that he gets a surcharge on every transaction he swipes that is under $10. Wow. It’s (ironically) a small coffee shop – how many transactions do you think are subject to this arbitrary fee?
The “experience” didn’t stop with hefty…
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