Square (Block) gained popularity with businesses by offering an easy application process and simplified processing rate (Flat Rate).
While Square works for some small businesses, their frequent rate increases and abysmal customer service make them a poor choice for most.
When does Square make sense?
Square may be an acceptable processing choice if one of two conditions are met:
- The annual processing volume is less than $60,000 ($5,000 per month)
- The average ticket of the business is smaller than $5.00
If your business does not meet at least one of the criteria above, processing with Indigo will net far greater benefits.
Processing Rates
February 2025 Update: Square announced a $0.05 increase to processing rates for card-present transactions (dip/tap/swipe). The images below display the processing rates after the increase. The impact of the increase for current Square customers can be viewed in this post (Competitor Price Increases – 2025)
Square offers flat rate pricing, which provides one flat rate for card-present transactions (dip/tap/swipe) and another flat rate for card-not-present transactions (keyed).
Flat rates provide predictability and simplify processing fees for business owners.
But this comes at a price. The fees incurred by businesses using flat-rate pricing will be significantly higher than cost-plus or interchange plus pricing (Indigo’s pricing plan).
Indigo customers previously processing with Square saved an average of 8% – 25% by converting to Indigo.
Indigo’s savings result from our cost-plus (interchange plus) pricing. With cost-plus pricing, businesses are billed the exact fees assessed by the major card associations (Visa/MasterCard/Discover/Amex), plus a nominal processing fee (paid to Indigo).
This allows us to set fair, cost-effective pricing for our customers that never increases.
Customer Support
A chronic issue reported by Square’s customers is the lack of customer service.
Square’s response times often take up to 24 hours, even for urgent matters. Other issues include processing funds being withheld, account cancellations without notice and more.
In comparison, Indigo provides full-time customer support 24/7/365 to assist with all your business needs.
Better options are available
Square can be the right solution for some small businesses, but frequent price increases and poor customer support make them too costly for most.
Indigo’s cost-plus pricing offers most Square customers immediate savings. And the rates are guaranteed for the life of our relationship.
We also have dedicated, full-time, around the clock customer support.
As our Guarantee states, “We will never raise your rates. There are no start-up fees. And you’ll never pay should you decide to leave.”
Contact Indigo today for improved processing in days.