If you key in the card details manually or from a file, you pay a transaction fee of 3.5% plus 15 cents per transaction.įor a purchase done through eCommerce API, Square Online Store, Square Online Checkout or online invoicing, you pay 2.9% plus 30 cents for cards or 1% with a minimum of $1 per transaction for ACH bank transfers (via invoices only). You pay 2.6% plus 10 cents per transaction for card payments accepted using a Square Reader, Register, Stand, Terminal, Retail Plus or Square for Restaurants. Square’s platform handles all of these for you and only requires you to pay them a few cents for each transaction. Payment processing can be a big headache for businesses because there are multiple fees levied by card companies, banks and compliance standards. This can make it ideal for brand-new businesses that want a solid POS platform without spending much upfront. However, we've started the process of looking into other systems and we've also reported them to the ACCC.Square is popular among small and mid-sized businesses because it has no monthly fees for the basic plan and a flat transaction fee structure. Lightspeed bank on the fact that many businesses won't switch to another POS system given the work involved. We feel like we've been blackmailed into using an inferior product. As a result, we've had many annoyed customers. Thirdly, the terminal failed to work for an entire 3 days.which support couldn't assist with. Secondly, we have been left with all merchant fees. Firstly, Lightspeed failed to transfer our payouts for the first week so we were left with nothing. We received the terminal within days, set it up and ensured merchant fees were passed to the customer. Although we were really happy with TYRO, we reluctantly switched. Our account manager advised us that this cost would be a minimum of $570 per month (not really achievable for a small business right?). We were sent an 'act immediately' email, which gave us 4 weeks to switch to Lightspeed's payment terminal otherwise we would be forced to pay an extra cost each month. Actually it doesn’t exist.Īfter 4 years with Lightspeed (and being a fairly happy customer), we too have become a victim of its recent decision to eliminate 3rd party payment systems. Their customer service isn’t bad it’s shameful. Totally let down by this sham of a company. And THAT should speak volumes to anyone else reading these reviews. ZERO FAITH IN THIS COMPANY! I’m heading over to Clover after 10 years of doing business with you. Of you won’t answer the phone or have someone that can actually help me when I’m trying to drop $1000s for a new system then why would you if I were having a problem. You know what Lightspeed…you don’t even deserve a 1 ⭐️ rating but they don’t allow a negative 10. A few times I’ve called and actually gotten someone they for some reason cannot comprehend that I want a new system and just keep rambling with their text book rehearsed lines to the point then I hang up. I’ve left my number for a call back several times no one ever calls back. WELL….I’ve been calling them for over a week. Now 10 years later Lightspeed has taken over and I see they have lots of new tech and better equipment than my old outdated system so I wanted to upgrade and get a new high tech system. I started out with ShopKeep 10 years ago. Lightspeed is a waste of time and money.…
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