Square is designed for in-person transactions. Here's a break down of all Square's fees.
- Accept more payments. With Square Payments, you can accept all payment types easily and securely. People want to pay for things in many different ways, and Square Payments allows you to work with them rather than against them. Square lets you accept credit cards, Apple Pay, Android Pay, and many more forms of payment. You can even generate invoices to be paid later with Square Payments. Payments are processed instantly and you can get paid in your bank account within one business day, or instantly for a small fee.
- Get paid in more places. You can implement Square Payments on a Square Reader, via app or computer, or on your website. It even supports offline payments for accepting mobile payments when you don't have a signal. Setting up Square Payments anywhere is extremely easy, requires practically no technical expertise, and lets you start taking payment in minutes without any long-term commitment.
- Saves you time and money. Credit card companies often charge small businesses arbitrary fees and lock them into expensive, long-term contracts. Square Payments offers transparent, flat-rate pricing free of startup fees, authorization fees, statement fees, refund fees, PCI-compliance fees, business card fees… There are no fees!Whether you're using Square digitally, or you have a Square Reader, Terminal, or Register, Square Payments offers pricing terms starting at just 2.6 percent plus $0.10 per swipe, dip, or tap.
- Protects you and your customers. In the digital age, privacy and data security is paramount for businesses and customers alike. Square Payments meets the top data security and compliance regulations, ensuring your data and your customers' data remains secure during every payment.
Generally speaking, Square is designed for in-person transactions, while Stripe is designed for online ones. Square offers several point-of-sale hardware options, including a free magnetic stripe reader that users can plug into an iOS or Android phone. Through Square POS, you can manage inventory and offer retail perks like gift cards. You can even build an online store through Square Online.
Square transfers funds to your bank account on the next business day or, for a 1.5% fee, instantly. If you sign up for a Square Card account — that is, a debit card with Square — instant transfers are available for free.