4 ms·
Yes it does cost them a lot less. The biggest expense Square faces is the interchange rate that it must pay to Visa/MC and they are much lower for swiped trans
by seanharper 16y ago
Yes it does cost them a lot less. The biggest expense Square faces is the interchange rate that it must pay to Visa/MC and they are much lower for swiped transactions.
- oasisbob 16y agoSmall technicality: Visa and MasterCard don't receive the interchange fees, the issuing institutions do. Swipe(total) Fee = Switch Fee + Interchange Fee