Anyone have current advice on payment processors for a retail location? I called my bank on the recommendation from another local business owner. They wanted 3% plus a setup fee, plus an annual fee, plus $8 each month minimum plus a terminal rental.. Once I listened to the rates, I said hmm, square is 2.75% why would I want to pay more? The response was that they could offer an insurance on the terminal vs fraud, but not very many people use that anyways...
So I'm considering getting an ipad or android if they can run via wifi with square as my terminal and just pay flat rate 2.75%. Every time I look into another payment processor option, all the hidden fees outweigh the lower %s.