Here's what Jack Dorsey told a Square customer who Bank of America tried to steal

From tech companies like PayPal to big banks like Bank of America, everyone seems to be gunning for a piece of Square's business.

But Square CEO Jack Dorsey says there's one major difference between his company and the rest of the competition that makes it better: its suite of services that cover everything from lending to analytics.

That's what Dorsey told a Square customer who Bank of America approached with much better payment processing rates.

"The rate actually matters less to our sellers than we first imagined. It's the suite of services and cohesion that matter a whole lot more," Dorsey said during Square's earnings call Wednesday.

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