Reforming Retail – Why Merchants Distrust Acquirers: What Is Vantiv Doing?
Square charges merchants a flat 2.75% for credit card processing. This rate is much higher than what larger restaurants should pay, since interchange is around 1.8%. Yet we find larger merchants increasingly considering Square’s POS, even though feature parity is nonexistent. Why would any sane person do this? Because their current processor adds so many fees that…