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10+ Square Payments Alternatives and Competitors

Square Payments

4.6 User Rating
$4.7 B Revenue
3835+ No of Employees
2009 Founded
SaaS Industry
Payment Processing Category
Jack Patrick Dorsey CEO
Overview

Square Payments is a superb payment processing software that caters to startups and small businesses with some functionality for mid-sized to large businesses. As you might already know, Square Payments is one of the most popular platforms that came from San Francisco, California, serving more than 15 million customers worldwide. On top of that, it is also one of the bigger earners in the market with a revenue of $4.7 billion per year. The app's 3,000 and more employees provide these solutions for its users with complete customer satisfaction guarantee.

Aside from that, with company CEO, Jack Patrick Dorsey, at the helm, Square Payments will only improve from here. Plus, with such a robust solution, it is hard not to select this app. However, there are also a few available today that are worth more than a glance. These include Stripe, Amazon Pay, Google Pay, PayPal, PaySimple, Venmo, Authorize.net, CyberSource Payment, 2CheckOut, Wepay. Know more about these other software platforms when you scroll down now.

Alternatives

Logo Name Rating CEO Pricing Founded Revenue Employees Location Reviews Customers
Stripe 4.6 Patrick Collison $0 2009 $1.8 B 2000+ San Francisco 2000+ Reviews 100000+
Amazon Pay 4.6 Mahendra Nerurkar $0.30 2005 N/A 10001+ Washington 1200+ Reviews N/A
Google Pay 4.5 Sundar Pichai $0 2018 $4.5 B N/A Mountain View 1350+ Reviews 55000000+
Paypal 4.45 Daniel Schulman $0 1998 $17.7 B 21800+ San Jose 1200+ Reviews 325000000+
PaySimple 4.45 Eric Remer $49.95 2005 $32.2 M 122+ Colorado 1000+ Reviews 17000+
CyberSource Payment 4.4 Michael Walsh $0.35 1994 $760 M 693+ Foster City 2000+ Reviews 400000+
2CheckOut 4.4 Alex P. Hart $0.45 2006 $84 M 400+ San Francisco 1500+ Reviews 17000+
Venmo 4.4 Dan Schulman $0 2009 $300 M 500+ New York 1570+ Reviews N/A
Authorize.net 4.4 Mike Walsh $25.00 1996 $16 M 40+ Utah 2500+ Reviews N/A
Wepay 4.25 Bill Clerico $15.00 2008 $58 M 300+ Massachusetts 1000+ Reviews N/A

Reviews

“ Efficient payment processing ”

4.7/5 (overall) - Alex N.
Pros:
  • I love how easy it was to set up, and how popular it is. So customers are familiar with it, which really helps them feel safe.
  • The most important part is it’s safe and secure. While doing events where I sell my merchandise I always use square where people can use their cards just like they were in the local Walmart.
Cons:
  • Square did not solve my problem as they created one. Their customer service was horrible and very offensive.
  • I was a little intimidated at first because I was afraid I would make a mistake and over-charge a customer.

“ A very feature-loaded, robust payment system ”

4.5/5 (overall) - Cherlyn C.
Pros:
  • Square is a simple, yet efficient software to use. It makes all my barber payment processing much easier, as well as, my clients truly enjoy the quick transaction. Along with that, it allows me to efficiently keep track of my daily revenue.
  • Ease of use, quick payment turn around, helpful support and integration with other software are just a few of the pros.
Cons:
  • For my line of work, Square has all of the features I need. Although, if your business is much smaller without as much revenue, the processing fees may be too high.
  • There was a recent rate increase that initially concerned me but I was able to find a satisfactory rate by working with my Square Account Manager.

Features

  • Access Control
  • Analytics
  • API
  • Accounting Integration
  • Agile Software Development
  • Assessment Management
  • CRM Integration
  • Campaign Analysis
  • Campaign Management
  • Collaboration Tools
  • Collaborative Workspace
  • Team Collaboration
  • Security
  • Email Integration

Images & Videos

Q & A

How much Square Payments charge for each transaction?

The payment transaction for Square Payments cost at a standard fee of 2.6% + 10¢ for contactless payments, swiped or inserted chip cards, and swiped magstripe cards. When it comes to manually keyed-in payments, or manually entered using Virtual Terminal, it would cost at 3.5% + 15¢ fee.

Is the Square Payments app safe to use?

Square ensures that all of your transactions are safe while you can focus more on your business. The software utilizes machine learning to oversee payments from across its ecosystem, allowing Square's team experts to reach out to its users if there's anything unusual. Also, the software provides documentation to keep track of active any disputes through the Disputes Dashboard.

What's the difference between Square Payments and PayPal?

Although both Square Payments and PayPal provide high-end online payment processing, both of these apps also have their specific differences. The Square Payments app is a perfect platform for businesses that require a robust point of sale system features, whereas PayPal is preferable for online-based businesses.

What cards do Square Payments accept?

Square Payments works with almost all of the available US-issued and internationally-issued magstripe or chip cards, whether it is Visa, MasterCard, American Express, Discover, JCB, or UnionPay. Square Payments also accepts card types such as Credit, Corporate, Debit, Prepaid, and Rewards.

Do Square Payments have an annual fee?

No, Square Payments doesn't charge any annual or start-up fees. Square only charges are for payment processing, which also varies depending on whether a card is physically swiped or the card is key-entered.

What bank do Square Payments use?

When it comes to bank partnership, Square Payment's debit transactions are issued by Sutton Bank. On the other hand, the direct deposit feature of Square is powered by Lincoln Savings Bank.

Alternatives

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