Square
Major ProcessorComprehensive payment processing and business management platform for small to medium businesses with point-of-sale and e-commerce solutions.
Square is a leading financial services and digital payments company founded in 2009 by Jack Dorsey and Jim McKelvey. The company revolutionized payment processing for small businesses with its iconic card reader that plugs into smartphones and tablets. Today, Square offers a comprehensive ecosystem of business tools including point-of-sale systems, e-commerce solutions, business loans, payroll services, and advanced analytics. Square serves millions of sellers globally, from individual entrepreneurs to large enterprises, providing both in-person and online payment processing capabilities. The platform is known for its transparent pricing, ease of use, and integrated business management features. Square went public in 2015 and rebranded its parent company to Block in 2021, though the Square payment processing brand remains unchanged. The company has expanded internationally and continues to innovate in areas like cryptocurrency, buy-now-pay-later services, and banking solutions for businesses.
Pricing
- Model: Flat Rate
- Starts at: 2.6% + $0.10
- Pricing: 2.6% + $0.10 for in-person transactions, 2.9% + $0.30 for online payments, volume discounts available for larger businesses
- Volume Discounts: Yes
- Custom Pricing: Yes
- Additional Fees: Chargeback fees ($15-25), international card fees (additional 1%), instant deposit fees (1.75%), ACH transfer fees ($0.25-1%), hardware costs for POS systems
Key Features
- • REST API
- • Webhooks
- • SDKs
- • Sandbox
- • Real-time
Pros
- Transparent, flat-rate pricing with no monthly fees
- Comprehensive business management ecosystem
- High-quality point-of-sale hardware and software
- Strong developer API and documentation
- Same-day deposit options available
- Integrated inventory, analytics, and CRM tools
- No long-term contracts required
- Excellent mobile app and offline payment capability
- Wide range of hardware options for different business types
Cons
- Higher rates for online transactions compared to some competitors
- Limited international presence compared to global processors
- Account holds and freezes reported by some users
- Monthly software fees for advanced POS features
- Customer service can be inconsistent
- Limited customization options for enterprise clients
- Chargeback fees can be expensive
- Less competitive for high-volume businesses
Supported Use Cases
Supported Countries
Payment Methods
Business Models
Compliance & Support
- PCI Level: Level 1
- GDPR Compliant: Yes
- SCA/3DS: Yes
- Support Availability: 24/7
- Support Channels: Email, Phone, Live Chat, Knowledge Base, Community Forum, Documentation
- Support Languages: English