With Square, each additional employee costs $5 per month. So if you have 3 employees, you’ll pay $180 per year in monthly fees.
ProPay has no monthly payments, no hidden fees, and only costs $39.95 per year – no matter how many employees you have.*
Understanding Effective Rates
When comparing Merchant Accounts, make sure you read the fine print and understand all of the fees and variable rates of the plan. Some merchant service providers advertise, “rates as low as…” But, what are you really paying? What is your real Effective Rate?
Most merchants will charge different transaction fees based on the type of transaction (Retail/Restaurant, Mail/Telephone Order-MOTO, Internet, etc.), and the type of card used (Qualified Consumer Card, Qualified Rewards Card, Keyed or Typed in Commercial Card, etc.). They will also charge additional fees that sometimes are hidden. It’s important that merchants understand all the fees associated with their plan and calculate those fees as part of calculating their overall Effective Rate and cost of the plan. Below is an example of a well-known merchant provider compared to ProPay. The advertised, “rates as low as 1.48%.”
Here are the facts: