Hello, and thank you for your advice in advance. I have a luxury nail salon and we have been with square since we opened. This year to date we have taken 304k in credit card payments and have paid almost 8000 in square fees. I am thinking if I can lower this and have been looking at interchange plus. The credit cards used are as folllws 65.17% Visa 16.70% Mastercard 16.39% Amex 1.74% Discover 43% of the transactions are debit Almost 50% are tapped if that makes a difference. We are above 150 per ticket. Any advise who to go to and what to look and maybe some recommendations so we can save some money here ? Thank you guys again for your recommendations.
Payments professional of 15 years here. You are correct that you can likely lower your fees on an interchange plus model. However, the breakdown of the card brands isn’t enough data and Square won’t provide you with what you need.
Which features of Square you actually using? Just the payment device? The full POS? Any other apps such as employee clock in, payroll, etc?