Stripe vs Square: Payment Providers Compared

Note that the information about Stripe and Square found in this article was taken from their respective websites on 5 March 2024. This information is subject to change.

Stripe and Square are the two titans in the digital payments arena. This makes the choice between them a challenging task.

Square, founded in 2009, simplified sales for small businesses and street vendors. A year later, Stripe emerged, quickly becoming the go-to for online companies, offering a suite of tools for e-commerce.

Here, we compare the two competitors, their offerings, Stripe vs Square pricing, integrations, and more to help you choose the provider that is best suited to your needs.

Stripe Versus Square: Key Differences

Both Stripe and Square provide payment processing, yet their products and business models vary.

Stripe offers online and international payments, offering a wide range of currencies and payment methods. On the other hand, Square is more popular for its selection of point-of-sale (PoS) systems and in-person payments for brick-and-mortar businesses.

Below is a breakdown of their products, integrations and solutions.

Stripe vs Square for Online Payments

In terms of online transactions, Stripe offers a wide array of features. These include streamlined payments, pre-built payment forms, customisable payment user interfaces (UIs), no-code payment links, subscription management, and more.

Stripe boasts 100+ payment methods and one-click checkouts. The globally-minded provider supports cross-border multi-currency payments to 195+ countries.

Square also offers extensive services, including digital invoices, payment links, and pre-built online payment solutions for e-commerce.

However, Square does not allow its users to charge clients in different currencies. For this, globally-oriented businesses must create multiple Square accounts for each country where they run operations.

Stripe PoS vs Square

Stripe Terminal is not a ready-to-use PoS solution. As the provider explains: “it requires programming experience with JavaScript, iOS, Android, or server-driven UI, depending on the integration mode the business chooses”. Stripe, however, provides a variety of devices that can be enabled to run your custom PoS.

Square, on the other hand, offers a pre-built electronic PoS that helps to manage sales, payments, records, inventory, and more. Users can add features as their business needs evolve.

For example, they can add device locations schedule, manage, and pay team members, via Square PoS system. The Square devices include terminals, readers, registers and mobile applications.

Square and Stripe Integration

In terms of third-party integration, Stripe’s App Marketplace connects with 135 business applications in such categories as accounting, compliance, data and analytics, and more. The features tools include PrestaShop, Salesforce B2C Commerce, Adobe Commerce, Chargeblast, Xero, and others.

The company also offers their partnership ecosystem, including 656 integration opportunities that help businesses leverage Stripe more effectively.

Meanwhile, Square Marketplace has a lot to offer, too. As of 2023, it hosted over 300 apps and integrations for various business types. The most popular include GoDaddy, Wix, Xero, Ecwid, WooCommerce, and more. The company also offers a partnership programme.

Stripe vs Square Fees

When comparing Stripe and Square pricing, Stripe comes with a variety of fees. For its online payment processing, Stripe charges 1.5% + 20p for standard UK credit cards and 2.5% + 20p for EU cards. For international cards, it’s 3.25% + 20p. For Link, Stripe’s one-click payment the price is 1.2% + 20p.

Stripe will charge 1% of the payout amount when users pay out in select alternative currencies and £20 per dispute for chargeback management. The check-out custom domain comes at $10 per month.

The Stripe’s in-person processing costs 1.4% + 10p per successful charge for EEA cards; 2.9% + 10p for non-EEA cards. It’s 10p per authorisation for contactless Tap to Pay, and 4p per authorisation for point-to-point encryption.  Stripe’s hardware terminal prices range from £49 to £179.

There are more fees for billing, invoicing, taxing, payment links, revenue recognition, anti-fraud measures, identity verification and card issuing. It’s crucial to examine Stripe’s complete fee structure before choosing the provider.

Meanwhile, Square’s Point-of-Sale software is free. The provider will charge 1.75% for each in-person transaction. For online payments, it’s 1.4% + 25p for UK card transactions or 2.5% + 25p for non-UK card transactions. The price is 2.5% for manually keyed-in transactions, recurring payments via online checkout links, square invoices and virtual terminals.

Square’s hardware pricing varies from £19+VAT for Square Reader to £599+VAT for Square Register.

Stripe vs Square Rates

Which is Better: Stripe or Square?

Choosing between Stripe and Square depends on your business needs. Stripe may be a better fit for advanced online and international payment options. Square is suitable for those requiring a Point-of-Sale (PoS) system for in-person sales. Stripe excels in global payments, while Square boasts a free PoS software. Your decision should align with your overall payment strategy.

Alternatives to Square and Stripe

Noda presents a compelling alternative to Stripe and Square. Its all-in-one platform offers secure and efficient payment solutions for businesses of all types and sizes.

Noda supports a variety of global currencies, working with over 2000 banks across 28 countries.

Our platform uses cutting-edge AI and machine-learning technology to streamline financial analytics. We offer intuitive UX, seamless payment processing, robust security and scalable plans.