That's not true anymore for under $10 transactions (see Dodd Frank), but the point was that since Square has no minimum fee they actually lose money on small tr

That's not true anymore for under $10 transactions (see Dodd Frank), but the point was that since Square has no minimum fee they actually lose money on small transactions. Square is used a ton for these sort of small transactions which goes a ways to explain why they have never made a profit (but have billions in revenue).