RTC SCORE
8.0
#1 of 16 with enough data
Helcim
Helcim's interchange-plus pricing with automatic volume discounts: in person, interchange + 0.40% + 8¢ up to $50k a month, down to interchange + 0.15% + 6¢ at the highest volume. No monthly, PCI, statement or batch fee, month-to-month with no cancellation fee, and an optional credit card surcharge (Fee Saver) at no extra fee.
RTC SCORE
7.3
#4 of 16 with enough data
Square
Square's card processing, built into Square for Restaurants: flat rates from 2.6% + 15¢ in person on Square Free (2.5% on Plus and 2.4% on Premium), with no PCI, statement or chargeback fees, month to month and with no early termination fee. Its surcharge only covers in-person credit card sales.
Key differences
| Data point | Helcim | Square |
|---|---|---|
| In-person rate | 0.4% | 2.6% |
| In-person fee per transaction | 8¢ | 15¢ |
| Online rate | 0.5% | 3.3% |
| Online fee per transaction | 25¢ | 30¢ |
| Keyed-in rate | 0.5% | 3.5% |
| Keyed-in fee per transaction | 25¢ | 15¢ |
| Chargeback fee | $15 | $0 |
| Price of a countertop terminal | $349 one-time | $299 one-time |
| Personal guarantee by the signer | Yes | No |
| Works with these restaurant POS | Others | Square, Others |
| Support channels | Phone, Email or form | Phone, Chat, Email or form |
Side by side
| Feature | HelcimRTC Score: 8.0 out of 10 | SquareRTC Score: 7.3 out of 10 |
|---|---|---|
| Type of processor and pricing | ||
| Type of processor | Interchange-plus or subscription processorSource: Helcim (opens in a new tab) | Flat-rate payment company (payment facilitator)Source: Square (opens in a new tab)A flat-rate payment company whose processing comes with its own POS. |
| Pricing model | Interchange-plusSource: Helcim (opens in a new tab) | Flat rateSource: Square Support Center (opens in a new tab) |
| Published pricing (points out of 100) | 100Source: Helcim (opens in a new tab)Same rubric for every vendor: in-person rate (25), online and keyed rates (15), markup and monthly fee (20), a stated $0 cancellation fee (20) and its other fees in a public fee disclosure (20). | 100Source: Square (opens in a new tab)In-person rate 25, online and keyed-in rates 15, plan fees 20, $0 early termination fee stated 20, other fees 20 (PCI, chargebacks, inactivity, transfers and international cards are listed). |
| Card rates | ||
| In-person rate | 0.4%Source: Helcim (opens in a new tab)Markup over interchange up to $50k a month in card sales (3-month average); lower tiers above that. | 2.6%Source: Square (opens in a new tab)On Square Free. Square Plus is 2.5% + 15¢ and Square Premium 2.4% + 15¢. Businesses processing over $250,000 a year can ask about custom pricing. |
| In-person fee per transaction | 8¢Source: Helcim (opens in a new tab) | 15¢Source: Square (opens in a new tab) |
| Online rate | 0.5%Source: Helcim (opens in a new tab)Keyed and online payments share Helcim's card-not-present markup, up to $50k a month. | 3.3%Source: Square (opens in a new tab)On Square Free. Square Plus and Square Premium charge 2.9% + 30¢ online. |
| Online fee per transaction | 25¢Source: Helcim (opens in a new tab) | 30¢Source: Square (opens in a new tab) |
| Keyed-in rate | 0.5%Source: Helcim (opens in a new tab)Same card-not-present markup as online payments, up to $50k a month. | 3.5%Source: Square (opens in a new tab)The same on every plan, also for cards on file. |
| Keyed-in fee per transaction | 25¢Source: Helcim (opens in a new tab) | 15¢Source: Square (opens in a new tab) |
| American Express pricing | American Express's cost plus a markupSource: Helcim (opens in a new tab)American Express's OptBlue rate plus Helcim's usual markup. Helcim also lists an acquirer network fee of 0.03% + 3¢ on every American Express payment, which our cost estimate leaves out (about $3 a month for our reference restaurant). | Same rate as other cardsSource: Square (opens in a new tab) |
| American Express rate | N/ASource: Helcim (opens in a new tab)American Express doesn't have a rate of its own here: you pay its cost plus Helcim's markup. | N/ASource: Square (opens in a new tab)Doesn't apply: American Express costs the same as other cards. |
| Rates by monthly volume | In person: interchange + 0.40% + 8¢ up to $50k a month; 0.35% + 7¢ from $50k; 0.25% + 7¢ from $100k; 0.20% + 6¢ from $500k; 0.15% + 6¢ from $1M. Online and keyed: 0.50% + 25¢; 0.45% + 20¢; 0.35% + 20¢; 0.25% + 15¢; 0.15% + 15¢. The tier follows your 3-month average volume; above $5M a month, pricing is by quote.Source: Helcim (opens in a new tab) | No tiers by volume: the rate depends on the plan (in person, 2.6% + 15¢ on Square Free, 2.5% + 15¢ on Square Plus and 2.4% + 15¢ on Square Premium). Over $250,000 a year you can ask Square for custom pricing.Source: Square (opens in a new tab) |
| Monthly and other fees | ||
| Monthly account or plan fee | $0/moSource: Helcim (opens in a new tab) | $0/moSource: Square (opens in a new tab)Square Free, $0 a month per location. Square Plus is $49 and Square Premium $149 a month per location, with lower card rates; for our reference restaurant Square Free costs less. |
| Annual fee per account | $0/yrSource: Helcim (opens in a new tab) | $0/yrSource: Square (opens in a new tab)Square publishes its full fee list (Learn about Square fees), and it has no statement, annual, batch or minimum fee: on Square Free you only pay processing fees when you take a payment. |
| Annual fees per device or location | $0/yr per deviceSource: Helcim (opens in a new tab)No yearly fee per device. Optional 4G data for a terminal costs $7 a month. | $0/yr per deviceSource: Square Support Center (opens in a new tab)Square publishes its full fee list (Learn about Square fees), and it has no annual, PCI or regulatory fee per device. What it does charge per device is monthly: the KDS and Kiosk apps on Square Plus and Premium. |
| PCI compliance fee (yearly) | $0/yrSource: Helcim (opens in a new tab) | $0/yrSource: Square Support Center (opens in a new tab) |
| PCI non-compliance fee (monthly) | $0/moSource: Helcim (opens in a new tab)Helcim says it charges no PCI fees, and its fee disclosure lists no fee for not completing PCI compliance. | N/ASource: Square (opens in a new tab)Doesn't apply: Square keeps the PCI certification as merchant of record, so you don't validate your own. |
| Statement fee | $0/moSource: Helcim (opens in a new tab) | $0/moSource: Square (opens in a new tab)Square publishes its full fee list (Learn about Square fees), and it has no statement, annual, batch or minimum fee: on Square Free you only pay processing fees when you take a payment. |
| Monthly minimum | $0/moSource: Helcim (opens in a new tab) | $0/moSource: Square (opens in a new tab)Square publishes its full fee list (Learn about Square fees), and it has no statement, annual, batch or minimum fee: on Square Free you only pay processing fees when you take a payment. |
| Fee per batch | $0Source: Helcim (opens in a new tab)Inferred: Helcim doesn't say "no batch fee" in so many words, but the "Other Fees" table of its US fee disclosure lists no batch fee, and its statement guide shows only interchange, card network costs and Helcim's markup. | $0Source: Square (opens in a new tab)Square publishes its full fee list (Learn about Square fees), and it has no statement, annual, batch or minimum fee: on Square Free you only pay processing fees when you take a payment. |
| Chargeback fee | $15Source: Helcim (opens in a new tab) | $0(Best value)Source: Square Support Center (opens in a new tab)Square doesn't charge for chargebacks or dispute management; you still lose the disputed amount if the customer wins. |
| Other fees | Tap to Pay on iPhone: 10¢ per approved payment. Recurring payments: +0.4%. International cards: +1.45% (Visa, Mastercard), +1.30% (Discover), +1.00% (American Express). Level 2/3 data optimization: Helcim keeps 30% of the savings. Optional 4G data: $7 a month. ACH: 0.5% + 25¢ (capped at $6 under $25,000) and $5 per returned payment. American Express acquirer network fee: 0.03% + 3¢.Source: Helcim (opens in a new tab) | Cards issued outside the US: an extra 1.5%. Gift card loads: 2.5% on Square Free and Plus. Afterpay: 6% + 30¢. ACH bank transfers on invoices: 1% ($1 minimum). Instant or same-day transfers: 1.95%. KDS app: $30 a month per device on Square Plus ($20 on Premium); Kiosk app: $50 ($30 on Premium).Source: Square (opens in a new tab) |
| Equipment | ||
| How you get the equipment | You buy itSource: Helcim (opens in a new tab)The Smart Terminal can also be paid in 12 monthly payments of $32. | You buy itSource: Square (opens in a new tab)You buy it, upfront or in monthly installments financed by Block (for example $27 a month for 12 months for Square Terminal). |
| Price of a countertop terminal | $349 one-timeSource: Helcim (opens in a new tab)Helcim Smart Terminal (countertop, with printer and 4G). The card reader costs $199. | $299 one-time(Best value)Source: Square (opens in a new tab)Square Terminal, a countertop and portable card terminal. Square Register costs $899. |
| Equipment lease you can't cancel | NoSource: Helcim (opens in a new tab) | NoSource: Square (opens in a new tab)You buy Square's hardware; the installments are a purchase loan from Block, not a lease. |
| Equipment lease term | N/ASource: Helcim (opens in a new tab)Helcim doesn't lease equipment: you buy it. | N/ASource: Square (opens in a new tab)Doesn't apply: Square doesn't lease its hardware. |
| Equipment at $0 upfront: what it commits you to | N/ASource: Helcim (opens in a new tab)Helcim doesn't offer equipment at $0 upfront: you buy the card reader ($199) or the Smart Terminal ($349, or 12 payments of $32). | No equipment at $0 upfront tied to a term. Square gives you the magstripe reader at no cost and sells the rest, with optional installments.Source: Square Support Center (opens in a new tab) |
| Equipment only works with this processor | UnconfirmedSource: Helcim (opens in a new tab)Helcim's POS app only works with Helcim hardware, but Helcim doesn't say whether its reader or terminal can be used with another processor. | UnconfirmedSource: Square (opens in a new tab)Square's hardware runs Square's own apps, but its hardware pages, sales policy and terms don't say whether it can work with another processor. |
| Getting your money | ||
| Standard deposit speed | Next business daySource: Helcim (opens in a new tab)Next business day at no extra cost when your bank is on the RTP or FedNow networks and you close the batch by 7 PM Mountain Time; otherwise 1 to 2 business days. Your first batches take about 3 business days. | Next business daySource: Square Support Center (opens in a new tab)Every Square merchant starts on the standard next-business-day transfer, at no extra cost: payments taken before 5 p.m. PT (8 p.m. ET) arrive the next business day, and later ones by the second business day. Instant or same-day transfers cost 1.95%. With Square Checking, your money is available right after each sale. |
| Instant payout fee | N/ASource: Helcim (opens in a new tab)Helcim doesn't offer paid instant payouts; its fastest option is next-business-day Faster Deposits at no cost. | 1.95%Source: Square (opens in a new tab)For instant and same-day transfers, from $25 up to $10,000 per transfer. |
| Holds and reserves | Helcim's terms let it hold or delay payouts and require a reserve for any reason related to your use of the service, in an amount it sets and can change at any time, funded from your sales or your bank account. After the account closes it may keep a reserve for at least 6 months.Source: Helcim (opens in a new tab) | Square may delay payouts or require a reserve if it considers your business risky, and it can hold chargeback amounts and delay payouts while chargebacks are pending (Payment Terms §14 and §20).Source: Square (opens in a new tab) |
| Contract and exit | ||
| Contract term | Month to monthSource: Helcim (opens in a new tab)Month-to-month: you can close the account without a fee. | Month to monthSource: Square (opens in a new tab) |
| Automatic renewal | Month to monthSource: Helcim (opens in a new tab)Month-to-month, with no renewal term. | Month to monthSource: Square (opens in a new tab)Month to month, with no renewal term. |
| Notice to avoid renewal | 0 daysSource: Helcim (opens in a new tab)No renewal to opt out of. | 0 daysSource: Square (opens in a new tab)No notice: you deactivate your account. |
| Notice to cancel | 0 daysSource: Helcim (opens in a new tab)You close the account by calling support during business hours; no notice period. | 0 daysSource: Square (opens in a new tab)You end the agreement by deactivating your account, with no notice period. |
| Early termination fee | No early termination or cancellation fee.Source: Helcim (opens in a new tab) | No early termination fee. Subscription fees already paid are not refunded.Source: Square Support Center (opens in a new tab) |
| How the early termination fee is calculated | No early termination feeSource: Helcim (opens in a new tab) | No early termination feeSource: Square Support Center (opens in a new tab)Square lists early termination among the things it doesn't charge for. |
| Liquidated damages clause | NoSource: Helcim (opens in a new tab) | NoSource: Square Support Center (opens in a new tab)No early termination fee or liquidated damages. |
| Price increases during the contract | With notice, and you can leave without a feeSource: Helcim (opens in a new tab)With at least 30 days' notice, and you can close the account without a fee. Card network costs pass through as they change. | With notice, and you can leave without a feeSource: Square (opens in a new tab)Square can change its fees with reasonable advance notice; since there is no term or early termination fee, you can leave if you don't accept the change. |
| Right to raise prices | Helcim can change its rates and fees with at least 30 days' notice on its platform; continuing to use the service after that accepts them. Card network fees change when the networks change them.Source: Helcim (opens in a new tab) | Square may change its processing fees with reasonable advance notice (Payment Terms §4), and its terms at any time with the notice it considers reasonable (General Terms §2).Source: Square (opens in a new tab) |
| Personal guarantee by the signer | YesSource: Helcim (opens in a new tab)Only if Helcim asks for it as extra security; it isn't a standard part of signing up. | No(Best value)()Source: Square (opens in a new tab)Neither Square's General Terms nor its Payment Terms contain a personal guarantee by the signer. |
| Dual pricing and surcharges | ||
| Dual pricing or surcharge program | YesSource: Helcim (opens in a new tab)Fee Saver is a credit card surcharge. Its terms say that in person it currently works only on the Helcim Smart Terminal (Helcim's help center also lists the newest card reader). Helcim can adjust the customer's fee for some card brand and cross-border costs, and can change, suspend or end Fee Saver at any time, with or without notice. Card network rules and state laws apply. | YesSource: Square Support Center (opens in a new tab)Credit card surcharging, in open beta in the US: in person only, credit cards only, up to 3% and never above your cost of acceptance, and not available in Connecticut, Maine, Massachusetts or Puerto Rico. Square publishes no dual pricing program. In our estimate, card processing on in-person credit card sales costs your restaurant $0 with the surcharge and your customers pay it; debit and online sales keep Square's rate. In practice part of that cost stays with you: Square charges its fee on the whole sale, including tax and tip, tips can't be surcharged, and the 3% cap can fall below Square's fee on small tickets (2.6% + 15¢ is about 3.03% of a $35 ticket). Card network rules and state laws apply. |
| Cards the program covers | Credit cards only (surcharge)Source: Helcim (opens in a new tab) | Credit cards only (surcharge)Source: Square Support Center (opens in a new tab) |
| Monthly fee for the program | $0/moSource: Helcim (opens in a new tab)Neither the Fee Saver terms nor Helcim's fee disclosure list a fee for it. | UnconfirmedSource: Square Support Center (opens in a new tab)Square's surcharge article and its fee list don't mention a fee for the program, and Square doesn't say it charges none. |
| Your POS and your business | ||
| Works with these restaurant POS | OthersSource: Helcim (opens in a new tab)Its own POS app at no extra cost. The Smart Terminal has an API to connect other POS systems, but Helcim documents no integration with Toast, Square, Clover, Shift4 POS, SpotOn or Lightspeed. | Square, OthersSource: Square (opens in a new tab)Processing built into Square's POS, and other POS systems too: Square's Terminal API connects another POS application to Square Terminal (see "Requires the vendor's own POS"). Same rule for every vendor: "others" when the vendor documents its processing on another POS. |
| Requires the vendor's own POS | NoSource: Helcim (opens in a new tab)The Smart Terminal also works as a standalone terminal next to your POS. | NoSource: Square Developer (opens in a new tab)Square's processing comes with Square's POS, and other POS software can use it too: Square's Terminal API connects another POS application to Square Terminal, and its fee list publishes rates for payments through its APIs. Same rule for every vendor: "no" when the vendor documents a way to use its processing with another POS. |
| Monthly volume it's built for | $0/moSource: Helcim (opens in a new tab)No minimum volume: the first tier starts at $0. | $0/moSource: Square (opens in a new tab)No minimum volume. Over $250,000 a year (about $20,800 a month) Square offers custom pricing. |
| Accepts high-risk businesses | YesSource: Helcim (opens in a new tab)Some higher-risk businesses after extra review; prohibited businesses are turned down. | NoSource: Square (opens in a new tab)Square's Payment Terms list business types it doesn't serve; it isn't a high-risk specialist. |
| Routes debit to the lowest-cost network | UnconfirmedSource: Helcim (opens in a new tab)Helcim prices PIN debit at interchange plus its markup but doesn't say whether it routes debit to the cheapest network. | Not publishedSource: Square (opens in a new tab)Square doesn't publish how it routes debit cards; with flat pricing the routing doesn't change your rate. |
| Support | ||
| 24/7 support for merchants | NoSource: Helcim (opens in a new tab) | NoSource: Square (opens in a new tab)24/7 phone support comes only with Square Premium ($149 per location a month). On Square Free, phone support is 6 am to 6 pm PT on weekdays for the first 90 days; on Square Plus it's 6 am to 6 pm PT on weekdays. We score the support of the plan our cost uses (Square Free), the same for every vendor. |
| Support channels | Phone, Email or formSource: Helcim (opens in a new tab)Phone with its in-house team, and support tickets from your account. | Phone, Chat, Email or formSource: Square (opens in a new tab)Chat and email on every plan; phone hours depend on the plan (see 24/7 support). |
Contracts compared
| Product | Initial term | Auto-renewal | Early termination fee | Price increases during the term | Trial |
|---|---|---|---|---|---|
| HelcimSource: Helcim (opens in a new tab) | Month to month | No auto-renewal | No early termination or cancellation fee. | Helcim can change its rates and fees with at least 30 days' notice on its platform; continuing to use the service after that accepts them. Card network fees change when the networks change them.Source: Helcim (opens in a new tab) | No data |
| SquareSource: Square Support Center (opens in a new tab) | Month to monthSource: Square (opens in a new tab) | No auto-renewalSource: Square (opens in a new tab)Month to month, with no renewal term. | No early termination fee. Subscription fees already paid are not refunded. | Square may change its processing fees with reasonable advance notice (Payment Terms §4), and its terms at any time with the notice it considers reasonable (General Terms §2).Source: Square (opens in a new tab) | No data |
This is general information about published contracts, not legal advice: read your own contract and check with a lawyer before you sign.
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