Square Drops Transaction Fee From Mobile Payments (Updated)

Vendors, rejoice! That extra $0.15 fee Square tacks on to every transaction is going away. While you'll still owe the mobile payment company 2.5% of the transaction, getting rid of the fixed cost is a nice little perk for retailers, who I'm sure will pass the savings onto you.

Update: Actually, looks as though Square has upped its percentage fee to 2.75%, so this may end up being a wash for the type of smaller transactions the service is predominantly used for. [Square via Business Insider]


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