Square Is Giving Some Businesses Thousands Of Dollars
AP
Square - which takes 2.75 percent or less of transactions made through its card readers - doesn't generally make money on small purchases. However, it does make money on larger ones, so it seems like the aim of this early-stage program could be to encourage desirable businesses (ones that will see lots of expensive transactions) to use its service. Once it locks these businesses in, Square will have a solid stream of money from processing their transactions.
Think of it like a long-term investment: Square gives the businesses the money now to grow, so that it will be able to continue to reap the benefits from all the businesses' big transactions for a long time to come.
Right now, Square is only testing the program with a few merchants, and hasn't decided whether it will continue the program or how to structure it in the long-run, the Information's sources said.
Business Insider has reached out to Square for comment.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market