Square announcement about discontinuing monthly plan came from AllThingsD report on November 9 .
The company quoted the decision was taken after considering customer feedback. The decision would make pricing more simpler, easier, & manageable. As monthly pricing had transaction caps, which made it complicated and required customers to track the number of transactions.
Is this possible that Square took this decision considering the fact they plan to have IPO in 2014 ? Monthly plan for some smaller retailers with smaller amount of transaction value would have been benefiting, but it is about to change now.
Customers would be moved to, Square’s standard rates are 2.75 percent of a transaction where a credit card is swiped and 3.5 percent of manually entered charges, plus a 15-cent fee.
I would be good to see impact and customer feedback for Square decision on this.
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