Square has significantly increasing its processing fees

Dear Square users,

We want to inform you of a recent decision made by Square that will directly impact your activities. Starting from June 21, 2023, for new merchants, and September 21, 2023, for existing merchants, Square has chosen to increase processing fees for in-person transactions using INTERAC debit cards to 0.75%, in addition to $0.07 per transaction. We understand that this decision may raise concerns within the Square user community.

We acknowledge that costs may change over time, but this fee increase appears challenging to justify. It is important to note that other INTERAC debit card payment service providers, including our own service, maintain significantly more reasonable rates.

We share your concerns and are committed to assisting you if you seek more information.

Best regards,

The Heritage Paiement Team

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