The mobile payment processing industry has become a favorite for individuals and business enterprises because of the easy-to-use programs and low cost involved in the transfer of money. Small business enterprises along with market vendors, start-ups and cafes, etc find this mode of payment very convenient.
One such POS app is Square with an in-built payment processing system. The best thing about it is that it is a free app and can be used on iOS, smartphones, and Android for mobile and in-store payments. Square also offers a basic commerce store for free to its users so that it becomes easy for business entities to manage inventory, products, customer directory and view analytics. Thus there is no monthly or downloading fee. The company charges a flat-rate fee for every transaction and the user has to pay as per his usage.
Square Inc is a public company of American origin that was founded in the year 2009 by its founders Tristan O Tierney, Jim McKelvey, and Jack Dorsey. It has spread its presence to countries like United States, United Kingdom, Japan, Australia, and Canada and serves its customers via headquarters based in San Francisco, California in the United States. Square is associated with several industries like Point-of-sale or POS, mobile payment and financial services and deals in auxiliary equipment and point-of-sale terminals.
There is a whole wide world out there with numerous options that will fit any POS preference company very easily. Let’s take a look at Square competitors so that you can opt for the one that will be the best option for your specific needs.
Top 9 Square Competitors
Clover is associated with Point-of-sale or POS industry and is considered a cloud-based flexible platform with an in-built payment processor that is perfect for small businesses. It helps in managing inventory, making sales and viewing reports. One of the strongest Square competitors in the market is Clover because it provides some additional features that are not part of the deal with Square, for instance, easy-to-use interface and loyalty programs.
Clover is a private platform of American origin that was founded in the year 2012 by its founders John Batty and Leonard Speiser. It has spread its presence in the worldwide arena via headquarters based at Sunnyvale in the United States. Clover is proprietary hardware and has several payment options. The user has to spend 14 dollars and 29 dollars for Register Lite and Register options respectively as monthly fees. The card transactions and keyed transactions are set at 2.7% + 10 cents and 3.5% + 10 cents respectively for Register Lite users and 2.3% + 10 cents and 3.5% + 10 cents respectively for Register users.
Important features of Clover are in-built processing for mobile, credit card and debit card payments, offline payment option, touch-screen POS system, next-day deposits, order and inventory management, customized loyalty programs, access to marketing tools for instance promotions and feedback, creating profiles of the customer with contact information, managing employee shifts and schedules, full-time phone support and sending customized promotions via email and text.
PayPal can integrate with nearly every e-commerce platform and is considered a Square competitor because of its solutions and features. It is most suited for e-commerce businesses and non-profit organizations. PayPal charges a flat-rate transaction fee of 2.9% +.30 dollars for basic payments and 2.2% +.30 dollars for non-profit organizations. The platform does not charge start-up, cancellation or monthly fees at all just like Square.
PayPal Holdings Inc or PayPal is a public company of American origin that was founded in the year 1998. It serves its customers globally through headquarters based in San Jose, California in the United States. This multilingual financial site is owned by eBay and is involved in online payments and transfers. It is an electronic alternative for paper transactions and operates as a payment processor for commercial users, auction sites and online vendors.
Important features of PayPal include free POS app, accept credit cards, debit cards, Apple Pay and PayPal credit, accept multiple currencies, collect invoice payments, create invoices, receive funds within minutes of transfer and integrate easily with several e-commerce portals like WooCommerce and Shopify
Shopify is the name of a proprietary portal as well as a retail point-of-sale outlet that also provides several related services like customer management, shipping, marketing, and payment tools. The Square competitor is considered a complete solution that provides a platform for sellers for online selling. The pricing plans of Shopify are dependent on the needs and size of the business organization and include plans like Shopify Life, Shopify Basic, Shopify, and Shopify Advanced. It starts with 9 dollars and rises as per the requirements. There is a monthly fee and the online and in-person rates vary as per the demands of the hour.
Shopify is a public company of Canadian origin that was founded in the year 2004 by its co-founders Scott Lake, Daniel Wein, and Tobias Lutke. It serves its customers through headquarters base at Ottawa in Canada. The company has spread its presence to one hundred and seventy-five countries and has an estimated 1,000,000 businesses in its fold. The world-renowned SaaS-based e-commerce company is an online platform that is associated with the internet industry.
Important features of Shopify include built-in payment and POS on Android, iPhone and iPad, acceptance of gift cards, debit cards and credit cards, shipping tools, customized promotions, tracking and discount, integration with accounting software like Xero, email marketing campaigns, full-time support through live chat, email and phone and organizing products by sale, category and type.
If you are looking for an inbuilt loyalty program that will also provide POS services your search will lead to Loyverse. It is considered a Square competitor as the app has features related to payment, inventory management, and sales. It can be used on a desktop, tablet, Android phone, and Apple.
Loyverse is the best option for business entities that have a high volume of transactions. The best part of the Square competitor is that it is free to download as well as use and there are no hidden costs attached to it. The only limitation is that it does not have a credit card processing option and this is where Square scores a point against it.
Important features of Loyverse include free POS app for Android and iOS, facilitate inventory management through quick and easy barcode scanning, encourage creating, editing and saving tickets, create a customer database and include notes to customer profiles. The Square competitor is easy to use but it does not have as many third-party integrations as its nemesis.
Lightspeed is a public company of Canadian origin that was founded in the year 2005 by its founder Dax Dasilva. It serves through headquarters base at Montreal, Quebec in Canada. The company has spread its presence to an estimated one hundred countries that include places like England, Australia, Canada, and the United States.
The world-renowned software provider is an online platform that is associated with the POS and e-commerce software industry. It offers POS solutions to medium and small enterprises that belong to the restaurant and retail businesses. The product portfolio of Lightspeed includes Lightspeed Restaurant, Lightspeed OnSite, Lightspeed e-commerce, and Lightspeed Retail. The pricing plan starts at 99 dollars per month and works on Android, iPhone, iPad, PC, and Mac.
With a robust POS system and advanced inventory features, Lightspeed is considered an apt Square competitor. It is the best option for large business enterprises as it has the capability to handle thousands of vendor catalogs, bundled items, and products. It is also good for businesses that are at multiple locations because the platform felicitates managing inventory and viewing data from every location on the same desktop screen.
Stripe is a private company of American origin that was founded in the year 2010 by its founders John Collison and Patrick Collison. It serves through headquarters base at San Francisco, California in the United States. The company has spread its presence to various countries all over the world like Australia, Canada, United States, Germany, Japan, and Spain, etc.
The technology company deals in the payment processing industry that allows businesses and individuals to receive and make online payments. Its related services include Connect, Subscriptions, Payments, Atlas, Relay, Sigma, Terminal, Issuing and Radar. The Square competitor is a leader in offering online payment processing solutions and is a favorite of small business entities as well as businesses with high-volume transactions. The payment options include debit and credit payments, global online payments as well as wire payments.
Stripe is a bit similar to Square in terms of pricing plan as both platforms do not levy cancellation, monthly or start-up fees. Even the online card payment fee is similar at 2.9% +.30 dollars. The fee for the e-check and ACH payments varies as Stripe levies .80%, capped at 5 dollars whereas Square has not revealed it yet. The biggest difference between the two platforms is that Stripe is meant for online businesses whereas Square has put its onus on in-person selling.
7. Intuit QuickBooks GoPayment
Intuit QuickBooks GoPayment is an accounting software marketed and developed by its developer Intuit Inc. It was released in the year 2019 with a proprietary license and is supported by operating systems of macOS and Microsoft Windows. The products related to this package are meant for medium and small business enterprises.
Intuit QuickBooks GoPayment offers cloud-based as well as on-premises accounting applications that manage and pay bills and accept business payments. It is meant to answer the demands created due to mobile POS options. Both the GoPayment card reader and GoPayment app can easily turn a smart device into an effectual POS system.
Intuit QuickBooks GoPayment is a Square competitor as both are involved in the POS industry. QuickBooks provides two options for card readers. The first magstripe and chip are free with the account and for every addition, it will cost the user 19 dollars and their magstripe and chip will cost 49 dollars. There are also payment processing fees that the user will have to bear from his pocket.
ShopKeep is a private company of American origin that was founded in the year 2008. It serves through headquarters base at New York in the United States. The company has spread its presence to Canada and the United States. The basic pricing plan of ShopKeep starts at 69 dollars per month.
The Square competitor ShopKeep is associated with the POS industry and deals in a payment processing system that allows businesses and individuals to receive and make online payments. It is a cloud-based service that is used by more than twenty-three small business enterprises like retail shops, bars, restaurants and coffee shops.
ShopKeep is an effective system that allows users to find the sales figures, pop cash drawers, email or print receipts and accept credit cards from an android tablet or iPad. Important features of this software are customer management, employee management, manage unlimited inventory items, reporting as well as for analytics. There is a smartphone dashboard app that is very useful in allowing the merchants to view store sales in real-time and that too remotely.
SumUp is a private company that was founded in the year 2012. It serves through headquarters based in London in the United Kingdom. In April 2016, the company decided to merge with Payleven, a mobile payment provider based in Berlin. The Square competitor has spread its presence to thirty-one countries.
SumUp is associated with the technology industry and deals in mobile payments. Its product portfolio includes the POS system, Chip & Pin and NFC card terminal, SDKs & APIs ad 3G Chip & Pin and NFC card terminal. SumUp boasts of superior technology and its easy-to-use process makes it a favorite of the users.
SumUp can connect with any tablet or mobile device through Bluetooth and accepts major credit and debit cards as payment options. It can process nearly five hundred transactions on a single charge making it a useful tool. The fee structure of SumUp is different for different countries and is dependent upon the debit and credit fee structure of that place.
If a business has high average transactions or has a large number of products and even inventory then it is not feasible to use Square as it will prove expensive. In such a scenario it becomes important to find a Square competitor that will be best suited for your personal needs and requirements.