Plus, plastic teabags leach a lot of microplastics, and more news to start your day
in a recent blog post. While this may not sound like a huge difference, adding a fixed charge of 10 cents means a significant price hike for small businesses with a high volume of transactions, but lower average transaction values — in other words, places like coffee shops.As an example, on a $5 transaction for your favorite cappuccino, Square would take $.14 in their old pricing model. Under the new model, they will take $.23, which is just under a 67% increase.
In fact, in order for a business to not see a rate increase, their credit card sales would have to average $66.67 per swipe., but for patrons of independent coffee shops and other small businesses, two possible scenarios are likely: expect either to see the price of your latte go up, or to watch your favorite cafe fight harder to stay afloat.A study from researchers at McGill University found that plastic tea bags release billions of microplastics when steeped in hot water.
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