We’re changing the rate for card-not-present transactions.
Beginning 1st December, 2020, we are updating the U.K. rate for card-not-present transactions across our online payment products from 2.5% to:
- 1.9% per European card transaction
- 2.9% per non-European card transaction
Payments taken via Invoices, Virtual Terminal and manually keyed-in on the Square Point of Sale app will still be charged at 2.5% per card transaction.
We are making this change to better align with industry-wide transaction costs. Like all payment providers, for every payment Square processes, Square has to pay a set of fees that are both a percentage of the transaction and a flat fee. Our card present (in-person) transaction pricing remains the same.
We know a pricing update can feel complicated so we want to make sure you have enough time and information to understand this change.
- You can visit our Pricing page to learn more about our rates.
- You can visit our Pricing FAQ to help answer key questions.
- You will receive an email and in-app/dashboard notifications with more details about how you are affected, and so you are aware of the update.
There are no other changes to your payments. You’ll still benefit from:
- No startup fees, statement fees, refund fees, PCI-compliance fees, or chargeback fees
- Secure and end-to-end encrypted payments
- Integrated online and offline payments
- 24/7 fraud prevention
- Payment dispute management
As of 1st December 2020, this update will go into effect for sellers new to Square. If you activated your account with Square before this date, this new rate for card-not-present payments goes into effect 15th February 2021. We are more committed than ever to delivering accessible, easy-to-use tools that help businesses of all sizes start, run, and adapt.
As always, thank you for selling with Square.