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.
RTC SCORE
5.4
#9 of 16 with enough data
Stripe
Stripe's flat-rate processing: 2.7% + 5¢ in person with Stripe Terminal, 2.9% + 30¢ online and 3.4% + 30¢ keyed in, with no monthly, PCI or closure fees, month to month. Deposits take two business days (instant payouts 1.5%). It has no restaurant POS of its own: restaurants use it through POS systems built on Stripe.
Key differences
| Data point | Square | Stripe |
|---|---|---|
| In-person rate | 2.6% | 2.7% |
| In-person fee per transaction | 15¢ | 5¢ |
| Online rate | 3.3% | 2.9% |
| Keyed-in rate | 3.5% | 3.4% |
| Keyed-in fee per transaction | 15¢ | 30¢ |
| Chargeback fee | $0 | $15 |
| Instant payout fee | 1.95% | 1.5% |
| Works with these restaurant POS | Square, Others | Others |
| 24/7 support for merchants | No | Yes |
Side by side
| Feature | SquareRTC Score: 7.3 out of 10 | StripeRTC Score: 5.4 out of 10 |
|---|---|---|
| Type of processor and pricing | ||
| Type of processor | 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. | Flat-rate payment company (payment facilitator)Source: Stripe (opens in a new tab)A payment company with one published flat rate for every business on standard pricing. |
| Pricing model | Flat rateSource: Square Support Center (opens in a new tab) | Flat rateSource: Stripe (opens in a new tab) |
| Published pricing (points out of 100) | 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). | 100Source: Stripe (opens in a new tab)Same rubric for every vendor: in-person rate published 25; online and keyed rates 15; monthly fee ($0, stated) 20; early termination fee ($0: no closure fees, stated) 20; other fees 20 (disputes, instant payouts, international cards and Tap to Pay are on the pricing page). |
| Card rates | ||
| In-person rate | 2.6%(Best value)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. | 2.7%Source: Stripe (opens in a new tab)With Stripe Terminal readers. Tap to Pay on a phone adds 10¢ per authorization. |
| In-person fee per transaction | 15¢Source: Square (opens in a new tab) | 5¢(Best value)Source: Stripe (opens in a new tab) |
| Online rate | 3.3%Source: Square (opens in a new tab)On Square Free. Square Plus and Square Premium charge 2.9% + 30¢ online. | 2.9%(Best value)Source: Stripe (opens in a new tab) |
| Online fee per transaction | 30¢Source: Square (opens in a new tab) | 30¢Source: Stripe (opens in a new tab) |
| Keyed-in rate | 3.5%Source: Square (opens in a new tab)The same on every plan, also for cards on file. | 3.4%(Best value)Source: Stripe (opens in a new tab)2.9% plus the 0.5% for manually entered cards. |
| Keyed-in fee per transaction | 15¢(Best value)Source: Square (opens in a new tab) | 30¢Source: Stripe (opens in a new tab) |
| American Express pricing | Same rate as other cardsSource: Square (opens in a new tab) | Same rate as other cardsSource: Stripe (opens in a new tab)One rate for every domestic card, American Express included. |
| American Express rate | N/ASource: Square (opens in a new tab)Doesn't apply: American Express costs the same as other cards. | N/ASource: Stripe (opens in a new tab)Doesn't apply: American Express costs the same as other cards. |
| Rates by monthly volume | 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) | N/ASource: Stripe (opens in a new tab)Doesn't apply: one published rate for any volume. Stripe offers custom pricing (including interchange-plus) for large volumes, only by quote. |
| Monthly and other fees | ||
| Monthly account or plan fee | $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. | $0/moSource: Stripe (opens in a new tab)Pay as you go, with no monthly fee. |
| Annual fee per account | $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. | $0/yrSource: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one. |
| Annual fees per device or location | $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. | $0/yr per deviceSource: Stripe (opens in a new tab)No recurring program or compliance fee per reader. Cellular data on readers that use it is optional, at $10 a reader a month. |
| PCI compliance fee (yearly) | $0/yrSource: Square Support Center (opens in a new tab) | $0/yrSource: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one. |
| PCI non-compliance fee (monthly) | 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. | $0/moSource: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one. |
| Statement fee | $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. | $0/moSource: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one. |
| Monthly minimum | $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. | $0/moSource: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one. |
| Fee per batch | $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. | $0Source: Stripe (opens in a new tab)Stripe says it charges no monthly or other hidden fees and lists every standard fee on its pricing page; none of them is this one. |
| Chargeback fee | $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. | $15Source: Stripe (opens in a new tab)Plus $15 for each dispute you respond to manually, which you get back if you win. |
| Other fees | 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) | Cards issued outside the US +1.5%; currency conversion +1%; Tap to Pay on a phone +10¢ per authorization; optional point-to-point encryption +5¢ per authorization; cellular data $10 a reader a month; $15 for each dispute you respond to manually (returned if you win); Smart Disputes 30% of the disputed amount when you win.Source: Stripe (opens in a new tab) |
| Equipment | ||
| How you get the equipment | 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). | You buy itSource: Stripe (opens in a new tab)You buy the readers from Stripe, or take contactless payments on a phone with Tap to Pay. |
| Price of a countertop terminal | $299 one-timeSource: Square (opens in a new tab)Square Terminal, a countertop and portable card terminal. Square Register costs $899. | $299 one-timeSource: Stripe (opens in a new tab)Stripe Reader S700 (countertop smart reader). The Stripe Reader M2 mobile reader is $59. |
| Equipment lease you can't cancel | NoSource: Square (opens in a new tab)You buy Square's hardware; the installments are a purchase loan from Block, not a lease. | NoSource: Stripe (opens in a new tab)Stripe sells its readers at a listed price; it doesn't publish a lease. |
| Equipment lease term | N/ASource: Square (opens in a new tab)Doesn't apply: Square doesn't lease its hardware. | N/ASource: Stripe (opens in a new tab)Doesn't apply: no lease. |
| Equipment at $0 upfront: what it commits you to | 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) | N/ASource: Stripe (opens in a new tab)Doesn't apply: Stripe doesn't offer readers at $0 upfront. |
| Equipment only works with this 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. | YesSource: Stripe (opens in a new tab)Stripe's readers work with Stripe accounts (through Stripe Terminal), not with another processor. |
| Getting your money | ||
| Standard deposit speed | 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. | Two business daysSource: Stripe (opens in a new tab)Default US settlement is two business days. Your first payout takes 7 to 14 days, depending on your industry and risk level. Instant Payouts cost 1.5%. |
| Instant payout fee | 1.95%Source: Square (opens in a new tab)For instant and same-day transfers, from $25 up to $10,000 per transfer. | 1.5%(Best value)Source: Stripe (opens in a new tab)Minimum 50¢ per instant payout. |
| Holds and reserves | 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) | Stripe can set up a reserve with a notice of its terms and hold it to cover what you may owe (disputes, refunds); it sizes reserves by risk and pays them out when the reserve term ends. It can also delay or withhold payouts for disputes.Source: Stripe (opens in a new tab) |
| Contract and exit | ||
| Contract term | Month to monthSource: Square (opens in a new tab) | Month to monthSource: Stripe (opens in a new tab)Month to month, with no closure fee: the agreement runs until you or Stripe end it, and you end it by closing your account in the Dashboard. |
| Automatic renewal | Month to monthSource: Square (opens in a new tab)Month to month, with no renewal term. | Month to monthSource: Stripe (opens in a new tab)No term to renew. |
| Notice to avoid renewal | 0 daysSource: Square (opens in a new tab)No notice: you deactivate your account. | N/ASource: Stripe (opens in a new tab)Doesn't apply: no term to renew. |
| Notice to cancel | 0 daysSource: Square (opens in a new tab)You end the agreement by deactivating your account, with no notice period. | 0 daysSource: Stripe (opens in a new tab)You end the agreement by closing your account in the Dashboard; no notice period. |
| Early termination fee | No early termination fee. Subscription fees already paid are not refunded.Source: Square Support Center (opens in a new tab) | No early termination fee: Stripe charges no closure fee.Source: Stripe (opens in a new tab) |
| How the early termination fee is calculated | No early termination feeSource: Square Support Center (opens in a new tab)Square lists early termination among the things it doesn't charge for. | No early termination feeSource: Stripe (opens in a new tab)No closure fee, per Stripe. |
| Liquidated damages clause | NoSource: Square Support Center (opens in a new tab)No early termination fee or liquidated damages. | NoSource: Stripe (opens in a new tab)No clause charges you for the months left: the agreement has no minimum term. |
| Price increases during the contract | 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. | With notice, and you can leave without a feeSource: Stripe (opens in a new tab)At least 30 days' notice of any fee increase; since the agreement has no term and no closure fee, you can leave before it applies. |
| Right to raise prices | 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) | Stripe can change its fees with at least 30 days' notice of any increase or new fee.Source: Stripe (opens in a new tab) |
| Personal guarantee by the signer | No()Source: Square (opens in a new tab)Neither Square's General Terms nor its Payment Terms contain a personal guarantee by the signer. | UnconfirmedSource: Stripe (opens in a new tab)The agreement has no personal guarantee clause; if you're a sole proprietor, you and the person who applies are both bound by it. |
| Dual pricing and surcharges | ||
| Dual pricing or surcharge program | 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. | NoSource: Stripe (opens in a new tab)Stripe's terms allow surcharging only where card network rules and the law permit it, but Stripe doesn't publish a dual pricing, surcharge or cash discount program for US merchants. |
| Cards the program covers | Credit cards only (surcharge)Source: Square Support Center (opens in a new tab) | N/ASource: Stripe (opens in a new tab)Doesn't apply: no program. |
| Monthly fee for the program | 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. | N/ASource: Stripe (opens in a new tab)Doesn't apply: no program. |
| Your POS and your business | ||
| Works with these restaurant POS | 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. | OthersSource: Stripe (opens in a new tab)Stripe Terminal works with third-party POS systems built on Stripe; Stripe doesn't list any of the restaurant POS systems on our list. |
| Requires the vendor's own 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. | NoSource: Stripe (opens in a new tab)Stripe has no restaurant POS of its own; it works through POS systems and apps built on Stripe. |
| Monthly volume it's built for | $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. | $0/moSource: Stripe (opens in a new tab)No minimum volume: pay-as-you-go pricing for any business. |
| Accepts high-risk businesses | 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. | UnconfirmedSource: Stripe (opens in a new tab)Stripe publishes lists of prohibited and restricted businesses; it doesn't present itself as a processor for high-risk businesses. |
| Routes debit to the lowest-cost 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. | UnconfirmedSource: Stripe (opens in a new tab)Stripe's pricing and docs don't say whether it routes US debit to the lowest-cost network for you. |
| Support | ||
| 24/7 support for merchants | 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. | Yes(Best value)Source: Stripe (opens in a new tab) |
| Support channels | 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). | Phone, Chat, Email or formSource: Stripe (opens in a new tab) |
Contracts compared
| Product | Initial term | Auto-renewal | Early termination fee | Price increases during the term | Trial |
|---|---|---|---|---|---|
| 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 |
| StripeSource: Stripe (opens in a new tab) | Month to monthSource: Stripe (opens in a new tab)Month to month, with no closure fee: the agreement runs until you or Stripe end it, and you end it by closing your account in the Dashboard. | No auto-renewalSource: Stripe (opens in a new tab)No term to renew. | No early termination fee: Stripe charges no closure fee. | Stripe can change its fees with at least 30 days' notice of any increase or new fee.Source: Stripe (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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