Square Vs Stripe Fees

admin1 April 2023Last Update :

Square Vs Stripe Fees

Comparing Square and Stripe: The Battle of Payment Processing

In today’s digital age, choosing the right payment processing platform can make or break your business. Enter Square and Stripe, two of the most popular options on the market. They promise seamless transactions, but their fee structures and features vary. Let’s dive into the world of Square vs. Stripe fees, helping you make an informed choice for your business.

Understanding Transaction Fees

Transaction fees are the lifeblood of payment processors, a small price to pay for the convenience they provide. In this corner, we have Square. When it comes to in-person payments, Square charges a fee of 2.6% + 10 cents per transaction. Meanwhile, for online payments, the rate slightly jumps to 2.9% + 30 cents per transaction. This means that if you process a $100 payment in person, Square takes $2.60 plus an extra 10 cents, totaling $2.70 in fees. For online payments, it would be $2.90 plus 30 cents, summing up to $3.20 in fees.

Square isn’t all rigidity, though. It recognizes the big players in town. If your business clocks in more than $250,000 in card sales annually, you might be eligible for lower transaction fees. They also offer a simple, flat-rate pricing option of 2.75% per transaction for those who prefer no-nonsense fees.

In the other corner, we have Stripe. Stripe plays by a different rulebook, charging a flat rate of 2.9% + 30 cents per transaction, regardless of whether the transaction occurs in person or online. So, a $100 transaction with Stripe would incur the same $2.90 fee plus 30 cents, matching Square’s online transaction cost.

So, which contender is right for your business? It’s a split decision. If your business thrives on face-to-face transactions, Square’s lower in-person fee could save you some bucks. Yet, if your forte is online sales, Stripe’s straightforward flat rate may be easier on the budget.

Beyond Fees: Additional Features

Fees aren’t the only cards in this poker game. Let’s deal with the additional features each platform brings to the table.

Square, for instance, is a jack of all trades. It offers an array of point-of-sale hardware options like card readers and terminals. That’s not all – they provide a suite of business management tools, from inventory tracking to employee management.

Stripe, on the other hand, boasts its developer-friendly API and tight integrations with popular e-commerce platforms such as Shopify and WooCommerce. If you’re looking to tailor your payment processing to unique specifications, Stripe’s got your back.

Customer Support

Don’t underestimate the importance of support. Both Square and Stripe offer phone and email assistance, but Square goes the extra mile with in-person support at its retail locations. For businesses seeking quick and convenient help, this could be a game-changer.


In the red corner, we have Square with transaction fees of 2.6% + 10 cents for in-person payments and 2.9% + 30 cents for online payments. In the blue corner, we have Stripe with a flat rate of 2.9% + 30 cents per transaction, irrespective of the payment type. The winner? Well, that depends on your unique business needs and preferences. Square may triumph if you’re all about in-person sales, while Stripe’s streamlined online approach is a knockout for e-commerce.

However, remember that both contenders are reliable and user-friendly. Your choice should reflect your business’s specific requirements and growth plans. Before deciding, weigh the fees, features, and services they offer. It’s your business’s time in the spotlight, and the payment processor you choose can be the difference between success and defeat. Choose wisely!

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