• Last Updated:
  • Aug 16th, 2019 6:44 am
[OP]
Sr. Member
Dec 6, 2012
785 posts
261 upvotes
Regina

New square terminal thoughts?

I see Square has launched their new square terminal.in Canada. The biggest benefit is no more restrictions on debit as you can now use chip cards.

The only downside I see is the price right now at $299 on sale.

https://squareup.com/shop/hardware/ca/e ... view&pmt=e
7 replies
Sr. Member
Nov 13, 2006
933 posts
568 upvotes
Where did you see there is no restriction on debit cards? Right now the old version has tap only for debit and limit of $100.
[OP]
Sr. Member
Dec 6, 2012
785 posts
261 upvotes
Regina
The new one takes chip cards so there is no restrictions on chip. The restriction was due to banks only allowing $100 through tap.

And only a .10 fee.
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Sr. Member
Nov 13, 2006
933 posts
568 upvotes
Interesting, But wow the pricing. The standard Bluetooth one is only $50.
Deal Addict
Aug 25, 2005
4647 posts
1265 upvotes
is square's 2.65% typically cheaper than the big bank plans that are all over the place?
Deal Fanatic
May 31, 2006
5298 posts
173 upvotes
Toronto
BenK wrote:
Aug 15th, 2019 11:38 am
is square's 2.65% typically cheaper than the big bank plans that are all over the place?
It's higher but on par with Moneris' Payd product. Square and Payd are for those who don't process high volumes. There's no monthly fee, just per transaction fee. Regular terminal setups have multiple fees and it varies based on MCC and other factors.
Last edited by Havo on Aug 16th, 2019 9:16 am, edited 1 time in total.
Deal Addict
Aug 25, 2005
4647 posts
1265 upvotes
Havo wrote:
Aug 15th, 2019 4:20 pm
It's higher but on par with Moneris' Payd product. Square and Payd are for those who don't process high volumes. There's no monthly fee, just per transaction fee. Regular terminal setups for multiple fees and it varies based on MCC and other factors.
thx. guess i'll pull out the excel sheet and do some math..
Member
Feb 18, 2014
216 posts
38 upvotes
BenK wrote:
Aug 15th, 2019 4:49 pm
thx. guess i'll pull out the excel sheet and do some math..
Threshold his about 4K / month in credit volume.

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