Jack Dorsey’s mobile-payments startup Square has been growing like crazy. Since March, payments processed are up 50 per cent.
It’s an attractive option for small business owners because it takes a 2.75% cut on most transactions, which it splits with the banks, versus a higher fee owners pay out to use traditional credit card machines.
We recently spoke with small business owner Lois Eastlund at her boutique clothing store in New York City’s Lower East Side about why she made the transition to Square.
See below for our conversation:
Produced by Robert Libetti & William Wei
Music “Rio” by 1000 Names
- This Interactive Burger Joint May Be The Future Of Fast Food
- A New York Cheese Shop Is Making 2,600 Pounds Of Fresh Cheese Every Day—And It Wants You To Watch
Business Insider Emails & Alerts
Site highlights each day to your inbox.