Virtual Terminal by Square - Accept payments on your computer

@zlatty This is because it is considered a "Card Not Present" transaction. There is no way for the merchant to know that the customer possesses the physical card, so the card networks justify the higher processing fee by assuming a higher potential for fraud. While Square has primarily played in the local/physical realm, anyone doing e-commerce was already paying this higher rate.

@ethosventures That totally makes sense. Higher risk, higher processing cost. 👍

@zlatty Yep. Not to say that the increased risk cost is necessarily 1%. There is likely some solid profit in there for Square 🤑

@shubham9289 Hi Shubham, this is currently available in the US only.

@amritpa1 thanks for clarifying but I hope this will available in India soon