Not quite. The rate after the promo rate is 2.5% which still undercuts Square. The 2.75% rate is for manually Keyed transactions. Also, the promo lasts until 20

Not quite. The rate after the promo rate is 2.5% which still undercuts Square. The 2.75% rate is for manually Keyed transactions. Also, the promo lasts until 2016, a good amount of time to convince users to switch and then keep them with marginally lower rates. From the page: "Sign up by October 31, 2014 to lock in this special rate through December 31, 2015. Pay 2.5% beginning January 1, 2016. Rates apply to all major credit and debit cards."