Shopify lowers card reader rates on its iPad POS to better compete with Square

by TabTimes Staff

April 7 2014

Shopify has updated the per-swipe rates it charges on credit card transactions for its Apple iPad-based point-of-sale (POS) system that competes with Square's market-leading Square Reader.

A major selling point for Shopify is that it manages both e-commerce and point-of-sale transactions, which means businesses can consolidate their online and in-store sales using the same platform. (Square only recently began targeting e-commerce with its Square Market).

Shopify actually raised the percentage it takes off each transaction, but has eliminated the per-swipe fee on every card purchase. For instance, its basic rate transaction charge has increased from 2.5% of purchases to 2.7%, but it no longer charges the 30-cent fee on every transaction. 

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