Square Gift Cards 2024 Pricing Change FAQ

What is changing?

Starting March 1, 2024, you will be charged an additional 2.5% per gift card load fee based on the amount added to a physical gift card or digital eGift card. This load fee will be applied to loads (or reloads) of physical gift cards and eGift cards sold in-store or eGift cards sold online through your Square eGift Card order site.

Why is Square making this change?

We have not updated our pricing for Square Gift Cards in over five years. This update better matches the costs of running a gift card program to both Square and the sellers on our platform. The 2.5% per load fee ensures you can sell as many or as few gift cards as your customers need without having to pay expensive monthly fees to offer gift cards like those charged by some other POS systems. The fee also allows us to reduce the price of physical gift cards.

How do I stop using Square Gift Cards?

If you wish to stop offering Square Gift Cards to your customers, you can simply discontinue your sale of your physical gift cards from your point of sale. 

To stop offering digital eGift cards, visit the Gift Cards section of your online Square Dashboard and toggle off Sell eGift Cards Online and Sell eGift Cards in Store and select Save.

Customers can still redeem their previously issued gift cards or eGift cards in-store or through your Square Online store for free. 

Are there any other fees associated with offering gift cards?

For e-Gift Cards and physical Gift Cards, Square charges a 2.5% load fee + any regular Square processing fees that apply. Learn more about Square Gift Cards and eGift Cards pricing.

Are you charging the 2.5% gift card load fee for refunds processed to gift cards?

No. The 2.5% gift card load fee will not apply to refunds or store credit issued to Square Gift Cards.

How will I be charged this 2.5% gift card load fee?

After March 1, 2024, any time you load a gift card or eGift card in-store or a customer buys an eGift card online through your eGift card order site, you are charged an additional 2.5% fee based on the total amount loaded on the card. For example, if you sell a $100 gift card to a customer, you pay a $2.50 (2.5%) load fee on the transaction plus standard Square processing fees (card processing fees).

Can I pass the gift card load fee on to my customers?

No. Charging service fees on gift cards to customers is prohibited under our Terms of Service based on applicable law.  

Can you waive the 2.5% per gift card load fee since I started using Square Gift Cards before this price change?

Unfortunately, no. This price change goes into effect for all existing Gift Card sellers on March 1, 2024.